IBEC calls for stimulus to fight unemployment
Business lobby group IBEC warned that today's live register numbers remain exceptionally high.
According to CSO figures, he standardised unemployment rate in January 2012 was 14.2%, with a decrease of 3,200 on the Live Register bringing the seasonally adjusted total to 439,600.
Fergal O’Brien, the organisation’s chief economist, again called on the Government to introduce stimulus measures to get people back to work.
“New initiatives are needed to unlock domestic demand and encourage households that can afford to, to spend and invest rather than save,” he said.
“There are steps the Government can take to stimulate the domestic economy, even in the face of constrained public finances.”
Mark Fielding, chief executive of ISME, which represents smaller businesses, urged the Government to “knuckle down”.
“How many more people must we lose to emigration and unemployment before we see some action from this somnolent Government?” he asked.
“With close to half a million people out of work, we cannot afford to be wasting time and need to immediately implement the over-promised and long-fingered jobs plan.”
Mr Fielding said the Fine Gael/Labour coalition has, after almost a year in power, “promised a lot but delivered little”.
Trade union umbrella organisation Congress described the unemployment level as a national emergency.
Paul Sweeney, Congress economic adviser, said there was no comfort to be taken in the overall small drop in the live register figures, which was “almost certainly” down to emigration and people dropping out of the workforce.
“The level of unemployment in Ireland is so high that it really is a national emergency,” he said.
“And the growing numbers of long-term unemployed – up by a substantial 24,000 in just one year – is very worrying.”
Mr Sweeney said bold and dramatic action was needed from the Government.
