Things aren’t looking well for the Irish Economy at the moment and a few numbers seem to look fairly ominous for the economy and therefore the rest of us.
FinanceDublin.com supplies one of the figures which is actually a Debt Clock tracking the Irish Governments Debt which currently stands at over 64 billion euro. That is a shocking figure which we and our children will have to pay off.
“Figures released by the CSO show that youth unemployment has jumped by 170.9% in the last two years. In June 2007, just two years ago, 33,872 people under the age of 25 were on the Live Register. This had increased to 91,755 by June 2009.
“This represents some 57,833 young people joining the live register in the last 24 months. The devastating effect this is having on these young people and their families cannot be displayed in figures and graphs. But it does exist, and it is being ignored.
“Youth unemployment growth of 171% in this two year period has been well above the national average of 151.6%. Young people are clearly facing the brunt of the economic downturn.
That isn’t great news for us young people in Ireland.
The thrid figure is from the recent IMF report on Ireland which shows that the Irish Economy is worst placed among the developed countries
GDP is projected to contract by 13½ percent through 2010, the largest among advanced economies
Read full report (PDF)
Things aren’t looking well at the moment, when will they pick up? Who knows. It depends on what the Government does and how well it does it.