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Eurozone Unemployment reaches new high, Irish figures projected to rise again...

HellFireClub

For all the summits and 5 point plans, it appears that the scourge of unemployment continues to spread:

http://www.breakingnews.ie/world/eurozone-unemployment-hits-new-peak-576123.html

Unemployment hits 11.7% across the Eurozone, with Spain & Greece harbouring unemployment rates of over 25%.

Meanwhile back on the ranch:

http://www.breakingnews.ie/business/ernst-and-young-forecast-rise-in-unemployment-575978.html

Ernst & Young are predicting an unemployment rate next year of 15.3% for Ireland.

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HellFireClub

Godge wrote: »

So in the real world of actual statistices where the live register is on the way down (by over 12,000 in the year) instead of acknowledging this and looking on the bright side, some of us are searching for the doom and gloom of future predictions.

The live register might be down, if it is, it is mainly due to people leaving the country, hardly an indicator of any dramatic policy success. I'm an employer and from my own experience, things have never been as bad, this nonsense of "we are a small open economy and therefore we need to wait for a worldwide economic recovery", is just an outrageous statement for any politician to make, it's the equivalent of being in 4th class in primary school and stupidly hoping that the kid sitting beside you in class, will do your homework for you before you have to turn up again in class tomorrow.

We can't all work in Microsoft or Google, but this is what we are pinning our ridiculous hopes to, that FDI is the answer to everything, that "inward investment" when it arrives, will float our boat again, it's like this government think that we are too stupid to create our own jobs and that we are as a nation, only smart enough to put the stickers on the boxes for Dell.

coolshannagh28

There s been a change of tack by the government vis a vis the domestic economy , have they realised that FDI is not going to solve our problems as the tax take and employment numbers from the multinationals are a joke and as long as the world economy remains stagnant there s nothing coming from there,or are we being softened up?
The domestic economy is all the rage and their strategy now seems to be to protect it, even the unions have jumped on this bandwagon
Britain is making noise on corporation tax as are the europeans ,they are not going to allow multinationals to pay little or no tax and I can see a day when we will have a flat rate europewide and more monitoring of their behaviour . will a deal on the promissory notes an
our bank debt be tied to this ?

starlit

I still cannot understand why unemployment is rising in the Eurozone if anything it should be reduced at this stage but is it down to the Euro I wonder? The UK are slowly getting out of the recession. They didn't have it as bad compared to the Eurozone/Ireland though things did make Ireland worse off than most of the other countries in the Eurozone. Though the borrowings, bail outs and austerity probably hasn't eased the unemployment from rising in the Eurozone, so whose fault is it Merkel?

djpbarry

doovdela wrote: »

The UK are slowly getting out of the recession. They didn't have it as bad compared to the Eurozone/Ireland...

News to me. The UK's public deficit is similar in size to Ireland's (expressed as % GDP), there are significant unemployment blackspots (particularly in the West Midlands, north east and Northern Ireland), youth unemployment is a massive problem (far bigger than in Ireland) and economic growth has been negative in three of the last four quarters.

Mr. teddywinkles

djpbarry wrote: »

I'm all for helping people retrain, but you can't expect Google (for example) to keep a position open for four years while applicants go and get degrees in computer science.

Sry but this thing has been going on 5 years now. Would have given anyone amble time to get a different qualification

Beside I dont think thats the problem.

starlit

djpbarry wrote: »

News to me. The UK's public deficit is similar in size to Ireland's (expressed as % GDP), there are significant unemployment blackspots (particularly in the West Midlands, north east and Northern Ireland), youth unemployment is a massive problem (far bigger than in Ireland) and economic growth has been negative in three of the last four quarters.

It was in the news/media recently a few weeks back and anyone I know living there have mentioned it. The areas you've mentioned I'd imagine aren't out of it totally. I thought Northern Ireland wouldn't be too bad with the sterling?

ardmacha

It was in the news/media recently a few weeks back and anyone I know living there have mentioned it

The UK isn't much better than the ROI. They haven't really faced up to things, whereas people in Ireland at least know there is a mess which might be first step to improvement.

djpbarry

doovdela wrote: »

It was in the news/media recently a few weeks back and anyone I know living there have mentioned it.

Anyone you know has mentioned what? That everything's grand? Well, it isn't. Not by a long shot (for the reasons mentioned above).

doovdela wrote: »

I thought Northern Ireland wouldn't be too bad with the sterling?

So the UK generally is not in good shape (with NI being in particularly poor shape for several decades now), but you thought that NI would be grand because they use the same currency as the rest of the UK?

What is this ridiculous blind faith that people seem to have in sterling?

frankosw

ardmacha wrote: »

The UK isn't much better than the ROI. They haven't really faced up to things.

Parts of the UK are suffering terribly(particularly the northern cities) whereas London is booming the same as ever with a few exceptions.

spank_inferno

George Osbourne announced "negative growth" recently.
The UK will more than likely enter a "triple-dip" recession in the first or second quaters of next year.
UK budget defecits are rising as is public spending & government debt.

I don't think it's a 'Euro zone' issue specifically.

Mr. teddywinkles

frankosw wrote: »

Parts of the UK are suffering terribly(particularly the northern cities) whereas London is booming the same as ever with a few exceptions.

Could be due to the olympics though.

ChRoMe

Mr. teddywinkles wrote: »

Could be due to the olympics though.

Olympics had close to no effect, in fact some retailers claim it had a negative effect on the city's economy.

London is an economic powerhouse, which is thankfully showing no signs of slowing down.

To put it into perspective, the London economy is bigger than wales,scotland and NI combined.

djpbarry

ChRoMe wrote: »

London is an economic powerhouse, which is thankfully showing no signs of slowing down.

Probably wouldn't be a bad thing if that economic power was more evenly spread around the country - the UK is far too dependent on the City of London to drive the economy.

ChRoMe

djpbarry wrote: »

Probably wouldn't be a bad thing if that economic power was more evenly spread around the country - the UK is far too dependent on the City of London to drive the economy.

Yeah for UK as a whole, it would be wise to entice people/businesses away from the SE.

However we both know thats never going to happen for a variety of reasons. I sometimes I have to remind myself, I dont live in the UK, I live in London