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Good news: Unemployment rate predicted to fall to 9.8% in 2015

The ESRI predict that unemployment will fall to 9.8% next year.

Image: Mark Stedman/Photocall Ireland

UNEMPLOYMENT IS predicted to fall to 9.8% next year, according to the latest quarterly report by the Economic and Social Research Institute (ESRI).

The CSO stats show that Ireland has a current unemployment rate of 11.5%.

Last week saw the 25th consecutive fall in the number of people unemployed, down 3,400 to 382,800.

Growth

Economic growth is also expected to stay strong for this year and into 2015, with a Gross National Product (GNP) of over 3.5% forecast.

Dr David Duffy said GNP continues to provide the best measure of the standard of living of Irish residents.

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“While the outlook for the economy is positive, the weak growth prospects for the euro zone are a concern. Domestically the particularly low rate of investment, the high rate of unemployment and the weak levels of credit being extended remain as issues to be addressed.”

The ESRI also stated today that there is no sign that another housing bubble is growing, adding that houses in the Irish market are still undervalued.

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