Recent Economic Trends Since the compilation of the 2022 Census in April of that year the economic environment has changed considerably as a result of both the war in the Ukraine and rising interest rates. In so far as discernible at a county rather than local authority level, some key trends since then are nonetheless noteworthy for the combined city and county areas:
Live Register
While the Live Register does not measure the level unemployment directly, trends in the Live Register do portend changes in the unemployment level. By comparing trends in the Live Register for both the state and Cork city and county as a whole, trends highly relevant to the LECP objectives relating to High Level Goals emerge. ➢ The Live Register is falling across the state (6.3% decline year-on-year last December and by 7.8% in Cork city and county).
➢ This tallies with business stakeholder feedback in relation to skills shortage and a tight labour market with the fall in the Live Register being more pronounced in Cork than in the State as a whole.
➢ It is noteworthy, however, that in contrast with trends for the “All ages” category, the fall in the Live Register for the “Under 25” category in Cork City and County was notably more muted (a 1.2% decline) than the equivalent fall for the state as a whole (a 4.4% decline) and significantly weaker than the fall in the “All ages” category for Cork city and County (a 7.8% decline).
Figure 2 Live Register year-on-year trend in Cork city & county and state as a whole
All ages
Under 25s
State
Cork
State
Cork
December 2022
184642
15326
18832
1339
December 2023
173003
14130
18009
1323
Percentage Change
-6.3%
-7.8%
-4.4%
-1.2%
Source: CSO
New Car Sales
A “bell-weather” of economic development sales of new cars have fallen by 2.6% in the period November 2022 to November 2023 11 , but by a more pronounced 12.7% in Cork city and county suggesting a greater vulnerability to economic
developments.
State
Cork city and county
11 The latest data available at the time of writing.
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