Skip to main content

Full Employment To Bust...

Full employment to bust in four years...

IT took just four years for the country to go from full employment to a situation where one-in-seven people is out of work.

As recently as 2007 unemployment stood at just 4.6pc -- less than one in 20 of the workforce. That has trebled to 14.6pc today.

It may come as a shock to Celtic Tiger cubs, but you only have to go back to 1994 to find a similar proportion of people out of work.

Back then, the unemployment rate had been bobbing around 14pc for over a decade -- down only slightly from its peak of 17pc in the mid-1980s.

The difference between then and now is that a staggering 440,000 people are signing on for the dole today. Even at its worst in 1993 there were fewer than 300,000 people on the Live Register.

Then came the boom and for over a decade Ireland became a Mecca for jobseekers, both international workers and its own returning emigrants who pushed the workforce to a once unthinkable 2.1 million people.

Dole queues fell to around 150,000 during the first half of the noughties -- just one-third of today's figures -- and most of the people signing on were simply between jobs.

But it's not just the length of the dole queues that makes today's unemployment crisis so profound, it's the financial burden so many are carrying.

Crippled

Increased expectations, high living costs and huge personal debt mean those on the dole today are far more likely to be crippled by mortgages and loan repayments.

The numbers signing on would also be even higher except that many women -- and an ever increasing number of men -- find themselves cut off from social welfare payments because their spouse is working, even if their lives and mortgages were built around the assumption that they would continue to earn two incomes.

The figures have been flat-lining at their current crisis level for seven months now and the Irish National Organisation of the Unemployed (INOU) foresees a bleak future.

In the 1990s, the state was a major source of new employment, but now it is actually shedding jobs, INOU spokesperson Brid O'Brien pointed out. And there is absolutely no chance of a construction boom.

Over half of those out of work are long-term unemployed.



Report by Aideen Sheehan - Irish Independent

Popular posts from this blog

Ireland's Celtic Tiger Excesses...

'Bang twins' may never get to run a business again... POST-boom Ireland is awash with cautionary tales of Celtic Tiger excesses, as a rattle around the carcasses of fallen property developers and entrepreneurs will show. Few can compete with the so-called Bang twins for youth, glamour and tasteful extravagance. Simon and Christian Stokes, the 35-year-old identical twins behind Bang Cafe and exclusive private members club, Residence, saw their entire business go bust with debts of €9m, €3m of which is owed to the tax man. The debt may be in the ha'penny place compared with the eye-watering billions owed by some of their former customers. But their fall has been arguably steeper and more damning than some of the country's richest tycoons. Last week, further humiliation was heaped on them with revelations that even as their businesses were going under, the twins spent €146,000 of company money in 18 months on designer shopping sprees, five star holidays and sumptu...

I fear a very different kind of property crash

While 80% of people over 40 own their own home just a third of adults under 40 do. This is disastrous for social solidarity and cohesion Changing this system of policymaking requires a government to act in a way that may be uncomfortable for some. Governments have a horizon of no more than five years, and the housing issue requires long-term planning. The Department of Public Expenditure and Reform was intended to tackle some of these problems. According to its website its remit is to “drive the delivery of better public services, living standards and infrastructure for the people of Ireland by enhancing governance, building capacity and delivering effectively”. So how is the challenge of delivering homes for people in 2024 and beyond going to be met? The extent of the problem is visible in the move by companies, including Ryanair, to buy properties to house staff. Ryanair has, justifiably, defended its right to do so. IPAV has long articulated its views on how to improve supply an...

Property Tycoon's Dolce Vita Ends...

Tycoon's dolce vita ends as art seized... THE Dublin city sheriff has seized an art collection and other valuables from the Ailesbury Road home of fallen property developer Bernard McNamara. The collection will be sold to help pay his debts. The sheriff, Brendan Walsh, is believed to have moved against the property developer within the past fortnight, calling to his salubrious Dublin 4 home acting on a court order to seize anything of value from his home to reimburse his creditors. The sheriff is believed to have taken paintings from the family home along with a small number of other items. The development marks a new low for Mr McNamara, once one of Ireland's richest men but who now owes €1.5bn . The property developer and former county councillor from Clare turned the building firm founded by his father Michael into one of the biggest in Ireland. He is the highest-profile former tycoon to date to be targeted by bailiffs, signalling just how far some of Ireland's billionai...