Economic slow-down bites as redundancies rocket

3 Mar 2008

The most recent redundancy statistics issued by the Department of Enterprise, Trade and Employment clearly demonstrate the extent of the economic down turn. The latest figures show an alarming increase in the number of redundancies notified to the Department in February.

2,875 redundancies were notified to the Department during the month which represents an astonishing 81% increase on the figures notified in February 2007 and overall, in the year to date, the figures are some 30% higher than in the same period last year. Manufacturing, construction and other services have taken a huge hit said Brid O'Brien, INOU Senior Policy Officer and we are concerned that if these figures are replicated in the months ahead 2008 will be a very difficult year for close on 30,000 workers and their families.

The INOU is calling on the Government and the job creation agencies to do everything in their power to attract new investment and jobs added Brid