Friday, January 9, 2009

Unemployment up 71% in 12 months

The Live Register saw an unadjusted increase of 120,987 or 71% in the year to December 2008 - the biggest 12-month increase since records began in 1967.

It compares to an unadjusted increase of 106,864 or 66.1% in the year to November.

Economists expect the unemployment figures to deteriorate significantly in 2009 with the state training agency FÁS predicting that the rate of unemployment will exceed 12% over the course of the year.

ISME described the situation as catastrophic and said that the Government has utterly failed to indicate how it is going to address the problems of small and medium businesses.

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