Flat unemployment rate raises question marks over real economic growth – Tóibín
Sinn Féin Jobs Spokesperson Peadar Tóibín TD has described April’s flat unemployment rate as disappointing and warned if repeated would place question marks over the real level of growth in the economy and the government’s multi annual economic forecasting analysis.The Meath West TD said:
“One month does not make a trend but there is no doubt that the latest live register figures will be a cause of concern for government as this is the second month in two years that the standardised rate of unemployment has not fallen.
“Serious questions exist over the impact of contract manufacturing and foreign vulture fund property investment in overall growth figures. If these jobs figures are repeated it would it would either point to a disconnect between job creation and growth or it would pour cold water over the veracity of the growth figures.
“Let’s be clear, a tax break for upper earners is not a job creation measure. Strategic infrastructural investment is. Despite starving the economy of vital capital investment over the last four years and significant depreciation of the state’s capital stock there was nothing in yesterday’s Spring Economic Statement that signalled any real turnaround in this short-sighted policy that has and will continue to negatively impact on jobs and competitiveness.
“Today’s live register figures illustrate yet again that low paid insecure work remains entrenched in the labour market. Year on year the numbers of casual and part-time workers as a percentage of the total live register has increased slightly to 20.4% remaining doggedly high under Fine Gael and Labours watch.
“Aprils flat jobs figures are disappointing and if repeated over the next couple of months will further expose the shortfalls of the government’s multi annual economic forecasting analysis.”