Counting the cost of unemployment

Posted on February 04, 2009 at 03:56 PM

With unemployed reaching 328k, the highest numbers on the Live Register ever, jobs are being lost at the rate of 1,500 a day. When social welfare payments and lost tax revenue are taken into account each and every job loss costs the exchequer €20,000 a year.

In the last 12 months to the end of January a €2.9b hole will be made in the public purse. This issue was the subject of Leaders' Questions this morning in the Dáil when the Labour Leader Eamon Gilmore, acknowledging the need to address public expenditure, told the Taoiseach, "we are looking at the wrong problem, we need to look at what is happening in terms of lost jobs".

The figures themselves are alarming but behind the stats are people and families who now face economic uncertainty the likes of which we have not seen in decades.

We have consistently put forward positive suggestions to the Government on how current jobs can be safeguarded and how new jobs can be created. You can view Eamon's contribution on the video and read the full exchange on the Oireachtas website.

Let us know how this is affecting you, your family and your community. Have you any ideas on what action can be taken to help, please let us know in the comments section below.

Tagged with Finance