1980s: Unemployment was very high in the early 1980s and large numbers of people emigrated from Ireland to look for work in other countries.
1990s-2000s:
During the late 1990s and 2000s the economy began to grow rapidly and many new jobs were created. Lots of job opportunities reduced unemployment and also attracted large numbers of immigrants into Ireland.
2008: In 2008 the economy went into a deep recession and lots of businesses made staff redundant. This caused unemployment levels to rise sharply again.
Measuring unemployment The unemployment rate is the percentage of the labour force that is unemployed. A normal rate of unemployment in an economy is considered to be between 3% and 5%. It is accepted that there will always be some level of unemployment in an economy, as businesses set up and close down and people move between jobs.
Calculating the Rate of Unemployment Example:
Number of people in the labour force = 2,200,000 Number of people unemployed
= Formula: Unemployed
––––––––––– X –––– = ––––––––– X –––– = 9% Labour force
