'Further jobs losses likely in next 18 months'
The Economic and Social Research Institute has warned that the high level of job losses in recent weeks is likely to continue for at least the next 18 months.
In its latest medium-term review, the ESRI said a lack of competitiveness and decent infrastructure were the biggest obstacles to economic growth in Ireland.
It also predicted a bleak future for the manufacturing sector, with the economy becoming more focused on services, and said wage rates in the private sector would probably stagnate for a number of years.
Responding to the report, Labour Party leader Pat Rabbitte said the Government appeared to be ignoring the ESRI's advice on how to improve the economic situation.
"The Government seems to have set its face against raising money in order to keep the infrastructure development going and we have to keep the infrastructure plan going because a poor infrastructure is a constraint on our economic potential in the future," he said.
