The Department of Enterprise, Trade and Employment have released figures which state that there have been 13,404 job losses since the start of 2011, 40% of which occurred in March. However there is evidence to suggest that while the labour market remains weak, the trend is stabilising and loses are at a slower pace than in 2010.
In response to the latest figures the ISME have called on the government to rapidly turn their attention to the ‘catastrophic’ labour market. Mark Fielding, ISME Chief Executive contends that, “the only way to solve an unemployment crisis is through generating economic activity and tacking social welfare abuse. ISME therefore calls on the new administration to introduce an emergency employment plan based on promoting pro business policies together with ensuring that those who choose to remain outside gainful employment are penalised accordingly.”
The ISME have revealed that 9% of Irish SMEs expect to shed jobs over the coming months compared to 13% in the previous year. The results of their Quarterly Trends Survey found that the construction sector remains badly affected by the recession with 33% of SMEs expecting the biggest reduction in employment numbers, followed by 26% in Retail, while Services, Manufacturing and Distribution remain the least affected.
Although exports continue to remain strong in the economy with 17% of companies reporting an increase in export values, Irish SMEs still remain pessimistic about the state of the Irish economy. The survey found that 30% of businesses expect a further deterioration in the Irish economy of the next 12 months and economic uncertainty remains the most immediate concern for 24% of SMEs.
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