1900 job losses mid west

What about the knock on job losses?
How many of these have mortgages and personal loans?
What about the effect on house prices in the region and therefore pressure on developers and banks?

http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article5472924.ece

Dell, the American computer giant, today delivered a further blow to Ireland's faltering economy when it announced plans to axe 1,900 jobs and shut down production in Limerick, its largest manufacturing plant outside the US.

It accounts for approximately 5 per cent of Irish GDP and last year contributed €140m to the south western economy in wages alone.

johnnyskeleton

What about the clear message it sends to the country - we're too uncompetitive and we are going to see a lot more jobs going over to Poland?

What about the 16k that lost their jobs in December alone?

What about the knowledge economy?

johnnyskeleton

johnnyskeleton wrote: »

What about the 16k that lost their jobs in December alone?

its the unannounced tens of thousands of jobs we lost in 2008..........!
nearly a quarter of a million people gone from the workforce comparing today with this day last year

Deleted User

Deleted User wrote: »

its the unannounced tens of thousands of jobs we lost in 2008..........!
nearly a quarter of a million people gone from the workforce comparing today with this day last year

I imagine some of those are foreign workers who went after losing their jobs. Obviously it's pretty difficult to quantify how many.

gurramok

Am i reading this right? http://www.rte.ie/news/2009/0110/economy.html

Last paragraph.
"The Department of Finance has issued new estimates forecasting that 120,000 jobs will be lost this year and next."

Is that 240,000 jobs as 120,000 per yr or 120,000 over 2 yrs?

It's armageddon type stuff if that forecast is per yr.

Run_to_da_hills

According to one tabloid we are currently losing a job at the rate of one every two minutes.

Économiste Monétaire

gurramok wrote: »

Am i reading this right? http://www.rte.ie/news/2009/0110/economy.html

Last paragraph.
"The Department of Finance has issued new estimates forecasting that 120,000 jobs will be lost this year and next."

Is that 240,000 jobs as 120,000 per yr or 120,000 over 2 yrs?

It's armageddon type stuff if that forecast is per yr.

I think that's supposed to be 120,000 over two years. It's quite poor phrasing on the RTE site. I think this is what they're talking about. Middle of page 3.

johnnyskeleton

Deleted User wrote: »

its the unannounced tens of thousands of jobs we lost in 2008..........!
nearly a quarter of a million people gone from the workforce comparing today with this day last year

100k more on the live register no longer working and claiming benefits. 150k missing presumed emigrated by my calculations. Is this where you get the 250k figure from?

In any event, it puts the Dell jobs in prespective. I think Dell is more of a symbolic rather than a substantial loss for the country (obviously it's a very significant loss for the area and tragic for the employees and their families). It shows how what we have been calling high tech IT jobs have really just been easily movable manufacturing jobs.

Deleted User wrote: »

I imagine some of those are foreign workers who went after losing their jobs. Obviously it's pretty difficult to quantify how many.

It doesn't really matter where they are from - it's still less of a tax take, less production and less demand for goods and services in the country. It's a small saving grace if people are emigrating rather than staying here and claiming benefits.

gurramok wrote: »

Am i reading this right? http://www.rte.ie/news/2009/0110/economy.html

Last paragraph.
"The Department of Finance has issued new estimates forecasting that 120,000 jobs will be lost this year and next."

Is that 240,000 jobs as 120,000 per yr or 120,000 over 2 yrs?

It's armageddon type stuff if that forecast is per yr.

It's more likely that the DoF are mindlessly optimistic in thinking that it will be 120k for both years, but in any event 120k per year is certainly on the cards. If you think of 250k being wiped out during 2008 and that a lot of companies (especially retail) have been keeping staff on in the hope of a recovery, similar job losses in 2009 are not beyong the bounds of reality.

road_2_damascus

Run_to_da_hills wrote: »

According to one tabloid we are currently losing a job at the rate of one every two minutes.

is this every 2 minutes, Monday to Friday, or are they counting the weekend also

johnnyskeleton

johnnyskeleton wrote: »

100k more on the live register no longer working and claiming benefits. 150k missing presumed emigrated by my calculations. Is this where you get the 250k figure from?

yeah thats how I get the figure, its approx I think its around 93K who are unemployed