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Almost 50% more redundancies - Irish Job News - News on Jobs for Ireland

Almost 50% more redundancies

5 May 2008 | Ireland | 3 Responses by paul savage.

The DETE (Department of Enterprise Trade and Employment , has published some frightening figures on Irish redundancy rates. Year on year the number of reported redundancies in April rose by 47% between 2007 and 2008. The majority of these job losses were in the construction and manufacturing sectors, making up almost half of the reported redundancies. Up to April this year, there was more than 11,000 redundancies reported to the DETE. This figure is 27% larger than the same 4 months (January to April) in 2007. Standardised unemployment rate remains unchanged at 5.5% in April, according to the CSO (Central Statistics Office) and there is now 158,600 people on the live register (seasonally adjusted) , of these 58% were male. These news statistics come also with bad news from the Exchequer . As of the end of April, the tax take figures are around €736 million off their targets. Areas that had lower than expected revenues include the Capital Gains Tax and stamp duty receipts. These make up about €400 million of the loss. Micheál Martin, the minister for Enterprise Trade and Employment was quoted as saying that there currently is a “rebalancing” taking place in the economy.

So with all the doom and gloom in Ireland, and the apparent stagnant housing market in Ireland, it seems like the economy is starting to slow down. Now that unemployment is up, more redundancies are happening than previously and less people are selling their houses, the Celtic tiger is truly asleep.

3 Responses

  1. Helen Fitzgerald said on 12 Aug 2008 at 2:59 pm

    I have been on holiday recently in Ireland in fact early August and I have to say the price of everything is phenomenal, for example I went out for a meal with my partner and for a main course alone we paid €65 and I have to say it was not the best meal I have ever eaten. For a glass of wine and a pint of cider €10.20 the difference between Sterling and the Euro is very little at the moment and the same meal would have cost me max £25 and the drinks €5.10 and believe me I don’t live in a cheap area in Britain!! I couldn’t believe there were so few tourists about but when I started going out for meals and having a few drinks I soon realised why! And as for the housing market prices are ridiculous considering in a lot of the areas I visited there was no employment, again where I live in the UK the houses are not as expensive and there are lots of employment opportunities! Something has to give!!!

  2. paul savage said on 12 Aug 2008 at 3:24 pm

    Thanks for your comment ! What you say is true Helen, Ireland is now very expensive, especially when you compare it to the rest of Europe. One of the reasons people blame the high costs is the fact that minimum wages are so high, and in the end it’s a vicious circle, increase wages, costs go up, increase prices, workers want more money to afford the things they could before.

    I live in Munich and the same drinks would cost you between €6 and €8 depending on the place.

    Just imagine what the American tourists think of Irish prices ? $1 will buy you €0.65 right now.

  3. Helen Fitzgerald said on 12 Aug 2008 at 3:28 pm

    I think one of the major reasons is the strength of the Euro when did anyone ever think that the average price of a house in Ireland would be almost on a par with the UK and in some cases more!!

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