Immigrants not factored into job loss estimates

TAOISEACH Brian Cowen's prediction last Wednesday that unemployment could hit 400,000 by the end of this year came despite the Government making no provision for Irish and non-Irish nationals who may leave or enter the country as a result of the global downturn, the Sunday Independent has learned.

Given the failure by government officials to factor in any estimates on the expected outflow of workers who lose their jobs during 2009, Mr Cowen's grim forecast could yet turn out to be hopelessly optimistic to the tune of tens of thousands.

For in the case of non-Irish nationals from Eastern Europe, being unemployed in Ireland could still present a more attractive option than a return to one's home country.

The weekly entitlement to jobseeker's benefit stands at over €200 per week here and matches -- and in some cases outstrips -- professional salaries in EU accession countries such as Poland and the Baltic states of Lithuania and Latvia.

http://www.independent.ie/national-news/immigrants-not-factored-into-job-loss-estimates-1632513.html

Taxpayers to fork out an extra €2bn next year

TAXPAYERS are likely to have to stump up an extra €2bn from next year as part of the government's plans to bring order to the public finances. It is expected that around half of the planned €4bn "adjustment" in the public finances for 2010 will come from extra taxes.

Informed sources say that the introduction of carbon taxes and increases in in-come tax rates are both "inevitable", while a property tax on every home in the country is "a distinct possibility".

http://www.tribune.ie/news/home-news/article/2009/feb/08/taxpayers-to-fork-out-an-extra-2bn-next-year/

Unemployment is now at 9.2%

The Taoiseach has said that unemployment could reach 400,000 by the end of the year.

Brian Cowen was speaking after revealing the highest monthly increase in unemployment in more than 40 years.

Mr Cowen told Fine Gael leader Enda Kenny that an extra 36,500 people joined the dole queues in January, bringing the unadjusted jobless total to 327,900.

Deputy Kenny said the figures were horrendous, the worst in the history of the State, and that the Government's proposals yesterday did nothing to offer hope or confidence to those who had lost their jobs.

http://www.rte.ie/news/2009/0204/employment.html

70,000 retail jobs face axe in 2009

The economic crisis will significantly worsen in the New Year, with a shocking 70,000 jobs now expected to be lost in the beleaguered retail sector alone.

Retail forms a huge part of the economy with almost 30,000 wholesale and retail businesses in the country.

The sector employs around 200,000 people -- over 9 per cent of all jobs -- and accounts for close to a quarter of consumer spending.

In the New Year, it is widely anticipated that a third of such businesses will close, an unprecedented development which will lead to up to 70,000 job losses.

http://www.independent.ie/national-news/70000-retail-jobs-face-axe-in-new-year-1586826.html

120,000 more jobs will go, warns ESRI

The Irish economy will shed almost 120,000 jobs in 2009 and 50,000 people will emigrate, an economic forecast warned yesterday.

The ESRI also believes the Government will be hard-pressed to pay the 3.5pc wage rise due in September under the national pay agreement.

In a Quarterly Economic Commentary, it said GNP will shrink by 4.6pc next year on top of an anticipated 2.6pc contraction for 2008.

"We now expect that average employment will fall by 117,000 in 2009," said the report.

"A fall in employment of that size will be consistent with net outward migration of 50,000, with the unemployment rate averaging 9.4pc."

http://www.herald.ie/national-news/120000-more-jobs-will-go-warns-esri-1580693.html

Recession sees racism rise as minorities are targeted

THE recession has seen an increase in the discrimination and targeting of minorities, the outgoing state-funded authority on racism has said.

Delivering its final report ahead of disbanding, the National Consultative Committee on Racism (NCCRI) said it was “dismayed” at the Government’s weakening support for groups battling discrimination.

The Government cut the NCCRI’s budget by 100% in the budget, which has forced the group to close its doors. Its role is to be merged into the office of Minister for Integration Conor Lenihan.

The group’s director, Philip Watt, said it was a time to actually increase resources to combat discrimination.

“There has been a significant hardening of attitudes to Travellers and people of colour,” he said saying this was due to the recession.

http://www.irishexaminer.com/irishexaminer/pages/story.aspx-qqqg=ireland-qqqm=ireland-qqqa=ireland-qqqid=80363-qqqx=1.asp

Britain angry as billions flood into Irish banks

Finance Minister, Brian Lenihan was coming under increasing pressure from Britain today as billions of pounds flowed into Irish banks because of the Government two-year guarantee on savings.

British Chancellor of the Exchequer, Alastair Darling intervened twice with the Irish Government on behalf of UK banks yesterday, amid fears that the Government's blanket guarantee was causing a flood of funds across the Irish Sea.

British Treasury sources, quoted by The Times of London, said Mr Lenihan was told "in no uncertain terms the scheme was a problem for the UK."

http://www.herald.ie/national-news/britain-bleats-to-lenihan-as-billions-flood-into-our-banks-1487378.html

Redundancies on the cards for 20pc of firms

A FIFTH of companies said they are likely to make people redundant in the next year, according to a new survey.

And competition for jobs is heating up as more than half of employers have said there has been a huge increase in the amount of CVs being sent to them in the first six months of the year.

The current climate will make it especially difficult for new graduates to find jobs, according to recruitment agency urHired and market research company Focus One.

http://www.independent.ie/business/irish/redundancies-on-the-cards-for--20pc-of-firms-1476808.html

Budget pushed forward to october

The Government today decided to rush forward the Budget by almost two months to October 14 in light of the rapidly deteriorating economic situation.

With job losses, rising prices and falling tax revenue, figures released today showed unemployment has jumped to 6.1% - a 10-year high.

The Government, which today held its first Cabinet meeting since the August break, said moving the Budget from the first week in December will give clarity and confidence to investors and taxpayers and lay the foundations for a recovery.

http://www.breakingnews.ie/ireland/mhqlgbkfgbey/