SOARING LONG TERM JOBLESS NUMBERS A 'CHILLING COMMENTARY ON AUSTERITY'

15 Sep 2011

Congress has described the latest long-term unemployment figures as a 'chilling commentary on austerity' that demanded urgent and immediate action from Government.

Commenting on the dramatic rise, Congress Chief Economist Paul Sweeney said: "A full 54 percent of those out of work are now long-term unemployed, without jobs or a decent income for over a year.

"That is a chilling statistic and a chilling commentary on the failure of the austerity programme that was supposedly designed to save us. In fact it is directly responsible for thousands of job losses. These figures require an immediate, urgent and strong response from Government."

Mr Sweeney said those calling for more cuts in spending and increased taxes on regular workers "seem not to realise that austerity is killing the patient and smothering any prospect of a recovery.

"To cut another €4bn out of the economy next year is madness, but even to cut the planned €3.6bn will mean no growth whatsoever in 2012. The adjustment must be scaled back and accompanied by investment in jobs. That is vital," Mr Sweeney said.

"The revised terms of the deal with the Bailout Troika mean we can hasten more slowly

"The Irish economy is failing on so many fronts that it is time for a significant change in policy. The key to recovery is real investment in jobs," Mr Sweeney said.