Jobless Rise Confirms Failure of Austerity Programme

1 Jun 2011

The latest rise in the jobless rate is confirmation of the failure of the austerity programme and clear proof of the need for a policy change, at both the European and domestic levels, the Irish Congress of Trade Unions said today (June 1).

New figures show that unemployment is now at its highest level so far this year, rising from 14.7% to 14.8%.

According to Congress Economic Advisor Paul Sweeney, the rise is a direct consequence of official policy.

"Deflation is simply not working and is leading directly to job losses. We have seen domestic demand crash by over 25% in less than three years. That translates into thousands of job losses and thousands of families in very difficult circumstances.

"This is not the route to recovery, but leads precisely in the opposite direction. It is time that the authorities at the EU level and here at home stopped taking counsel from the advocates of austerity. It doesn't work. Today's figures are proof positive," Mr Sweeney said.

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