Daft Property - Irish Property News

THE number of Irish people being forced to emigrate to find work has hit a 20-year high, with the numbers edging towards the 30,000 level. The level of overall emigration, including non-Irish nationals, has remained constant at 65,300. But the number of Irish nationals leaving these shores including families was 27,700 in April, up 42pc on last year. Migration from other countries to Ireland has also slumped. The number of migrants dropped significantly to 30,800 in April from 57,300 last year, according to new figures from the Central Statistics Office (CSO). The figures also show the highest level of net outward migration to 34,500 in April since 1989. Economists said yesterday that our youngest and brightest are being forced out of the country to find jobs because of slump in the economy. "The bulk of this is forced emigration," said Friends First economist Jim Power. "What we're doing is what we did very well in the 1980s and it is unambiguously negative. "T...

As the government continues to pump billions into our much discredited banking system, many Irish people unable to find work here are facing into a future outside of this country. John Downes, News Investigations Correspondent, spoke to some of the new Irish diaspora about their recent experiences of emigration... By any stretch of the imagination, they were a startling set of figures, prompting echoes of a past which we thought we had left behind. According to ESRI data released last week, we can expect net emigration of 60,000 in the year to this April – and a further 40,000 by April 2011. That's almost 1,000 of our best and brightest leaving every week. Yet the ESRI's predictions are simply the latest – if most stark – indications of a return to mass emigration among Ireland's unemployed, as the downturn has continued to take its toll. In September, for example, the Central Statistics Office revealed that Ireland witnessed a return to net emigration for the first time si...

Economist says 15pc chance of country going bankrupt... CUTTING the Irish minimum wage is an "economic no-brainer" while social welfare rates must also be tackled to kick the economy back into gear, a senior official at the Economist Intelligence Unit said yesterday. Economist Dan O'Brien also gave the Irish state a 15pc change of "going bankrupt" in the next year, a bleak outlook that comes just a month after ratings agency Fitch gave the country a 1.5pc chance of defaulting over the next decade. Mr O'Brien was addressing the AGM lunch of small business lobby group ISME, which had just voted in Kildare accountant Eilis Quinlan as their next chairman. Asked by Friends First economist Jim Power for his views on the lowering of the minimum wage, Mr O'Brien described the move as an "open and shut case from an economic point of view". Ireland's minimum wage, at €8.65, is the second highest in Europe. "You only have to look at the competit...

If you want to escape, it will cost you... Not so long ago, emigrants were paid to go to Australia -- today, it could cost a few grand to get into Oz...beating the downturn...the hidden cost emigrating to find work. WITH up to 300 jobs a day being lost in Ireland, anyone would be tempted to hop on a plane out of here. Although no country is likely to escape, Canada is expected to avoid the worst blows. Small wonder then that Canada is becoming a more popular place to emigrate to than in the past. Other favourites include Australia and New Zealand. Although the US and Britain have their fair share of recession blues, the traditional links between both countries and Ireland continues to draw Irish emigrants there. However, the cost of emigrating could burn a deep hole in your pockets. CANADA Home to the Rockies, the grizzly bear and the awkward moose, anyone emigrating to Canada certainly won't be hungry for the great outdoors -- but you could need almost €18,000 to enter the countr...

25pc afraid of losing jobs as confidence hits a record low... MORE than a quarter of workers fear that they are about to lose their jobs, while one in five thinks their personal financial circumstances will worsen in the next year. But the number of people who fear redundancy in the private sector is likely to be even higher as the survey did not distinguish between public and private sector workers. The Ipsos Mori poll, seen exclusively by the Irish Independent, reveals that consumers' confidence in their personal finances is at its lowest level since the survey was first conducted in 1999. Recessionary times are striking fear into workers with more than a quarter of workers afraid that they are about to lose their jobs. Younger people are more insecure about their jobs than older workers, the survey conducted among 1,500 people between July and September shows. More than a third of those aged between 16 and 24 are concerned about the possibility of being made redundant. Almost th...

Poles flee ailing Irish economy... When the European Union expanded eastward in 2004, Ireland opened its doors to workers entering from former communist states to help maintain record economic growth. Now, immigrants are heading for the exit. The number of people leaving Ireland next year will outstrip those moving to the country for the first time in 14 years, according to Economic and Social Research Institute in Dublin. The biggest exodus will be among the 170,000 workers who arrived the past four years from Poland and other east European states. ''It's a very hard situation,'' said Artur Kawczynski, 30, who lost his factory job in Galway on Ireland's west coast 10 days ago. ''I rang my friends in Poland to ask what job opportunities there are like.'' Immigrants like Kawczynski fed the manufacturing and building booms that helped double the size of Ireland's economy during the past 10 years and made it the most dynamic in western Europe. N...

Uncertainty over jobs after record market fall... AS grave uncertainty hangs over the future of thousands of jobs at Irish branches of recession-slammed US firms, markets are not expected to rebound quickly from yesterday’s record-breaking fall. At home, the ISEQ index of Irish shares’ closing figure was its lowest for more than five years. Across Europe, the trend was similarly dismal for a second day, with the FTSE Eurofirst 300 index falling 2.6% to its worst close since May 2005. The stock market shock waves followed the collapse of investment bank Lehman Brothers, the 158-year-old fourth largest financial institution in the US. In response, central banks around the globe pumped funds into the money markets, including €70bn from the European Central Bank, $50bn (€70.5bn) from the US Federal Reserve and £20bn (€25.2bn) from the Bank of England. Lehman’s bankruptcy filing, the biggest in US history, followed Merrill Lynch & Co’s decision at the weekend to sell itself to Bank of A...

The end of July reports show... Number signing on Live Register rises by 10,600 The rise in the number of people claiming unemployment benefits over the last year has increased at the fastest rate since records began over 40 years ago. In July, 10,600 people joined the Live Register bringing the seasonally adjusted total signing on to 226,000, on a seasonally adjusted basis, according to figures released by the Central Statistics Office this morning. The monthly increase is the second highest on record after March of this year. The number on the register is the highest in a decade. Last month’s increase lifted the standardised unemployment rate to 5.9 per cent, the CSO said. Over the last 12 months the number of people seeking unemployment benefits has risen by over a third with 63,647 people joining the register. In July 6,700 males and 3,800 females joined the register. Leo Varadkar, Fine Gael enterprise spokesman accused the Government of losing control of a deteriorating economic...

House building crash helped spark sudden rise in jobless figures... HOUSE building crashed after the Christmas holidays last year, new CSO figures show -- helping to explain the sudden rise in unemployment during 2008. Output in house construction was at the lowest level since the current statistics began in 2000. It was also 20pc less than the previous low point eight years before. House building slumped more than l30pc on the previous quarter, as builders left sites closed after the New Year break. This left the volume of output down 38pc on the same period of 2007. The value of houses built was down 35pc, suggesting little change in prices over the 12 months. Non-residential building was up almost 9pc compared with 2007, and the value of the buildings was 14pc greater. This gain left total construction down almost 22pc on the previous year. But Rossa White, economist at Davy Research, said the figures seemed to be saying that non-house building was already slowing fast in 2007. ...