Jobless rate unchanged at 14.8%

There has been a fall in the number of people on the Live Register, but the jobless rate is unchanged at 14.8%.

New figures from the Central Statistics Office show that on a seasonally adjusted basis, there was a decrease of 2,300 last month to 437,300.

However when unadjusted, the Live Register total in July stood at 460,323 with the rate of unemployment remaining unchanged at 14.8%.

More than 44% of those signing on are long term claimants, who are out of work for more than a year.

ISME boss Mark Fielding said: "Most disappointing are the continuing rise in long-term unemployment (5.3% increase) and the number of people under 25 (listed on the register) reducing month-on-month for the last two years, because they're emigrating."

Meanwhile, the Deloitte Q2 2012 survey reveals a drop in business confidence with one in five Irish CFOs now optimistic about their company’s financial prospects, down from 32% in the first quarter.

Net optimism, which tracks aggregate optimism on a quarterly basis, stands at zero, down from 17% in Q1, indicating that Irish CFOs increasingly have mixed views in terms of overall optimism on future performance.

Despite the decline in overall optimism, sentiment on turnover and profitability remain steady. 51% of CFOs expect turnover to have increased in six months’ time, down slightly from 53% last quarter. 46% also expect profitability to increase in the next six months.

Some 92% of respondents said they did not believe the economy would return to growth before Q1 2013. Thirty-seven percent believe a break-up of the Eurozone is likely, and 38% believe it is not.