The number of people signing on the Live Register increased 10,000 in June bringing the total to 217,400, according to figures released by the CSO this morning.
The rate of increase in the numbers signing on for unemployment assistance over the last 12 months is the fastest since records began almost 50 years ago, with the the construction sector slowdown largely responsible. Earlier today concrete supplier Readymix said it had cut 15 per cent of its workforce.
On Wednesday the Goverment said it would have to find savings of €500 million to fund additional social welfare payments for the increase in thise unemployed due to the downturn.
This requirement and a projected €3 billion shortfall in tax revenues in the exchequer returns will force the Government to borrow three times more than it had planned this year.
At the end of June the number of people signing of for unemployment assistance had risen by almost a third or 54,400 to 217,400 compared the same month in 2007. This is the highest level since September 1998. The monthly increase was the second highest on record.