Lack of bank finance still hindering SMEs.
Responding to the unemployment statistics in the latest Quarterly National Household Survey, issued recently, ISME, the Irish Small & Medium Enterprises Association, described the current unemployment situation as ‘disastrous’. The Association continues to be particularly concerned at the level of long term and youth unemployment, together with the emigration of young people. The Quarterly National Household Survey, the official recording of the labour force, confirmed that there are 309,000 people unemployed, an annual increase of 13,300.
The seasonally adjusted unemployment rate now stands at 14.8% up from 14.5% in the last quarter.
According to ISME Chief Executive, Mark Fielding, “the continuous increase in unemployment and in particular the long term unemployed clearly demonstrates that the Government’s job strategy is not working. Much more action is required on the jobs crisis to arrest the savage loss of jobs.”
* The Association called on the Government to:
* Introduce a jobs initiative to subsidise employment
* Address the bank credit crisis
* Reform the social welfare system to make it worthwhile to work and come off the dole.
“While the government cannot create jobs its responsibility is to foster an environment in which jobs can be created. Now is the time to prime pump the economy with a jobs initiative that subsidises employers for each additional job created. That action will encourage confidence and stimulate consumer spend, starting the recovery process,” concluded Fielding.
