Unemployment ‘to fall to 12.5% by 2014’

Ireland’s unemployment rate could fall to 12.5% by the end of 2014, although it is still likely to remain in double figures for a number of years, according to Merrion Stockbroker’s latest quarterly economic outlook.

Unemployment has gradually reduced from over 15% to around 13.5% in the last two years and the first two quarters of 2013 saw net employment increases of 20,500 and almost 34,000, respectively.

“Unlike the opening quarter of 2013, the bulk of the annual increase in the April-June period was in full-time rather than part-time jobs,” noted Merrion’s chief economist, Alan McQuaid.