Wednesday, June 2, 2010

The Working Class is being replaced with the Unemployed class

The relentless trend of economic bad news is not going away. CSO figures for the Live Register shows unemployment is only getting worse. The Figures have now risen from 13.4% up to 13.7%. Since the last election the govt. has tripled the unemplyment rate from 4.5% up to that 13.7%.

But how long will all this last. Aren't things looking up according to the dublin govt. Well according to Ernst & Young's latest report persistent unemployment is going to remain around for a long time. Progressive-economy reports they suggests that it will be well over a decade before all-Island employment returns to its peak of 2.9m achieved in 2007. (And interestingly the report repeatedly focuses on all-Ireland rather than the component economies of each state which is at least one positive trend). For the 26 counties employment levels won’t return to their pre-recession level until 2022.

Some commentators have optimistically looked at the jobless figures and noted that the rate of increase for the live register is droppiing off.

But thats to miss the huge social implications of the return of long term unemployment, under-investment and emmigration.

Over 10 years of Fianna Fail jobs for the boys means another 10 years of unemployment and pain for ordinary people.

Its got to end. We need those bye-elections held, the govt. removed, and the serious work to begin so that the inherent stregth of the economy is developed for the benefit of ordinary people and not a cosy circle of insiders.

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