Jobless to hit 320,000 next year....

[mcgon1979]

wow... thats alot of jobseekers assistance payments to be paid (dole). This is partly the reason I won't risk moving to anew job at this time.

Jobless rate 'will hit 320,000'

Financial crisis
Independent.ie

By Aine Kerr, Anne-Marie Walsh and Barry Duggan

Thursday November 06 2008

TAOISEACH Brian Cowen last night predicted that unemployment could reach over 300,000 next year.

As the numbers joining dole queues yesterday surged to over 250,000 for the first time in 11 years, Mr Cowen said in a 'Hotpress' interview that unemployment could rise by "over 70,000, at least" for next year, pushing unemployment as high as 320,000.

The numbers claiming job seekers' benefits have risen by 15,800 since September to 260,300 last month, leading opposition parties to claim that unemployment is now spinning out of control.

Last month, 6.7pc of the population were unemployed, signalling that the Government's prediction of 7.3pc for next year may prove too conservative.

Economic pressure mounted on the Taoiseach last night as SIPTU made a last-ditch effort to avert an all-out strike that could cause chaos at Aer Lingus before Christmas.

But Mr Cowen strongly defended the Government's actions in creating employment and boosting welfare payments, as he announced the latest live register figures from the Central Statistics Office yesterday.

However, Fine Gael claimed the unemployment figures marked the biggest monthly increase in history.

"Nearly 70,000 people have lost their jobs since Brian Cowen became Taoiseach, and there are now more people on the live register than when Fianna Fail came to power in 1997," said the party's enterprise spokesman Leo Varadkar.

Calling for urgent action to stem the rising tide of unemployment, Mr Varadkar said the Government had "thrown in the towel" on unemployment in the same way it has thrown in the towel on public services and the public finances.

"The Government's target of 5.7pc average unemployment for this year already looks hopelessly optimistic."

"Together with the further weakening of tax revenues in the Exchequer figures, it's clear the arithmetic in last month's Budget is already unravelling," he said.

Shocking

Labour leader Eamon Gilmore said the figures were "truly shocking" and suggested that unemployment is now "spinning out of control".

He claimed there were now almost 100,000 more on the Live Register than 12 months ago.

"It is clear now that unless some action is urgently taken, we are again going to see 300,000 on the live register -- a figure not seen since the 1980s," he said.

The Taoiseach, however, insisted that the Government had pursued policies which had boosted employment. It was also ensuring that FAS and other agencies were providing initiatives and courses to people to help with upskilling, he said.

In a statement, the Taoiseach described the increase in unemployment as "regrettable" but not surprising, given the dramatic slowdown in the global and national economy.

"Employment creation remains a priority for the government. The creation of quality, well-paid jobs will come predominately from two sources -- foreign direct investment and indigenous enterprise," the statement said.

A chief economist with Bloxham Stockbrokers said the unemployment increases were "alarming" and estimated that it costs €11m for every 1,000 people signing on.

He predicted that unemployment would soon reach 7pc, before going over 8pc in 2009.

Business group ISME said urgent government action was needed to address the "calamitous" live register figures and avert a "crisis of major proportions".

The Irish National Organisation of the Unemployed (INOU) asked if the steep rise in unemployment would stop.

- Aine Kerr, Anne-Marie Walsh and Barry Duggan

[Bernard]

It's worrying alright, I work in Dell and rumours abound.
I've been there 12 years now, since I was 18... fingers crossed

[TopCat]

It's worrying alright, I work in Dell and rumours abound.
I've been there 12 years now...

So the rumours have been around for about half your time there?? I'm not in Limerick long, but I always hear about Dell about to lay off more. I really feel bad for people cos that is not a nice thought to having hanging over your head.

[Marie]

It's worrying alright, I work in Dell and rumours abound.
I've been there 12 years now, since I was 18... fingers crossed

Dell were to let loads go went Banta gave volentry redundancy 7 years ago, the rumer has always been there, people just have more reason to believe it now! Stay positive though Bernard!

[soc]

Aparently we're losing 1 job every 10 minutes at the moment -