Irish Recession At New High As Job Unemployment Rises

11th May 2009

The rate of unemployment in the Irish Republic rose to the highest since 1996 in February 2009, as the rate of unemployment rose to 11% and shows just how badly the recession has hit Ireland.  The Irish Government has planned to unveil an emergency budget to try and tackle this recession.

 

The 370,000 unemployed on jobseekers allowance are getting desperate for signs of hope in the job market. The unemployment figure is almost 90% higher than this time last year and it is easy to see why.  There have been many protests by the general public, who have condemned how the crisis has been handled and although the Irish Prime Minister has been keen to show that the rate at which unemployment is rising has decreased. However, there are some signs of the situation easing, as the government has planned work with the electricity board and the hope is that this will be the first of many more positive announcements. It is thought that this will help business firms who are suppliers to the electricity board and the hope is that this will drive small business recruitment.

 

Irelands Electricity Board have announced plans to employ 3,700 energy based jobs in the next five years. Couple this with the ESB, who have pledged to take on 800 apprentices and be investing in external jobs in the wind farm and electric car charger field, to help develop new green technology. Energy Minister Eamon Ryan said: "Today we are stimulating the economy, shortening the dole queues and helping the environment at the same time."

 

The Irish Prime Minister Brian Cowen said: "This is a major step in advancing the government's commitment to building Ireland's smart economy." He added: "The announcement shows that we are delivering on that vision and providing new and sustainable jobs for current and future generations."