Following on from my post yesterday which showed Ireland’s unemployment rate had increased to 14.8% in May (which can be viewed here), a recent publication from Eurostat has shown that Ireland’s unemployment rate is the fourth highest in the EU. Figure 1 shows how Ireland is only behind Spain (which has an unemployment rate of 20%), Lithuania and Latvia (both of whom have unemployment rates of above 17%) in terms of the highest unemployment rate. This highlights the extent to which Ireland’s unemployment rate has climbed, from a mere 4% during the Celtic Tiger period.
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Justin Doran is a Lecturer in Economics, in the Department of Economics, University College Cork, Ireland.