"The latest news on jobs proves once again that current economic policies are failing. The most recent figures from the CSO (Sept. 19, QNHS) show that the number in work has fallen by 33,400. This undermines Government hype around job announcements," Paul Sweeney, Congress Chief Economist has said.
"The real motor of job destruction is austerity.
"Those calling for more cuts in the public service fail to realise that austerity is slowly killing the patient. Private sector employment fell by 0.3% but adjusted public sector employment fell by a very substantial -5.1%.
"To cut a further €3.5bn out of the economy next year probably means we will see no growth in GNP at all. Domestic demand, which is crucial in employment creation and retention, has fallen by almost one quarter since the Crash of 2008 and it is forecast to fall again next year. The Budget adjustment must be scaled back and accompanied by a far greater investment programme in jobs," Mr Sweeeny said.
"There are few green shoots. The Irish economy is failing on so many fronts that it is time for a New Direction in policy
"The key is real investment in job creation," Mr Sweeney concluded.
