Warning to firms over foreign competition threat

Companies must fend off stiff competition to ensure the country maintains the lowest unemployment rate in Europe, it was warned today.

Trade Minister Micheál Martin said Ireland’s success in achieving its employment levels should not make the country complacent.

He added: “In an increasingly competitive global economy we must be constantly aware of the competitiveness issues facing the Irish economy and ensure that Irish business is in a position to embrace the enormous opportunities for future growth and development.”

New figures from the Central Statistics Office (CSO) have shown that the number of people signing on for welfare payments on the Live register have dropped by around 4,800 between March and April last to around 154,200.

The Live Register has dropped by around 13,000 compared to a year ago.

Mr Martin said: “These figures again show that despite recent job loss announcements Ireland still continues to outperform many of our EU partners.”

The country’s unemployment rate stood at 4.2% last month.

The CSO said the Live Register was not dedicated to measuring unemployment. The register includes unemployed people, part-time workers, who work up to three days a week and, seasonal and casual workers entitled to unemployment assistance or benefits.

The last CSO National Household Survey showed that there were around 86,900 people unemployed between September and November of last year.