Ireland has fourth highest unemployment level in EU

Ireland's unemployment level is the fourth highest in the European Union according to the latest statistics published by Eurostat (January 8, 2013).  The unemployment rate in the EU is now 10.7% (up from 10.0% a year ago). In the Euro area unemployment is higher at 11.8% (up from 10.6% a year ago). It is clear that austerity is not working.  An alternative approach is required.

This means that more than 26 million people are unemployed in the EU, 18.8 million in the Euro area. The countries with higher unemployment than Ireland are Spain (26.6%), Greece (26.6%) and Portugal (16.3%).

Social Justice Ireland has for long maintained that current austerity policies will not produce the required increase in employment. Without a substantial increase in investment there will be no increase in jobs on the scale required. Without jobs there will be no recovery. Without recovery Ireland will remain mired in austerity for the foreseeable future.

Despite recent announcements on jobs Government is failing totally to address unemployment on anything like the scale required.  Domestic demand is set to fall again in 2013. Unemployment is set to fall but this will occur because emigration will continue.

In reality the current approach by Government to resolving Ireland’s series of crises is not working. In fact it is running down the economy.  Despite taking almost €28bn out of the economy in tax increases and expenditure cuts since July 2008 Ireland still has 700,000 people at risk of poverty, falling domestic demand, record levels of long-term unemployment, rising emigration and 100,000 households on waiting lists for accommodation.

Unemployment among young people is at 23.7% in the EU and 24.4% in the Euro area compared with 22.2% and 21.6% respectively a year earlier.