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09/01/2009
FAS – Unemployment To Reach 12%
The State training agency FÁS has predicted Ireland's unemployment rate to exceed 12% this year.
The organisation's announcement comes on the heels of the latest CSO figures putting the standardised unemployment rate in December at 8.3%.
The total number of people on the Live Register increased by 71% last year to 293,500.
The unemployment rate in Ireland is rising at a record pace as companies including Dell Inc. and Waterford Wedgwood Plc cut jobs.
The government has further forecast that the economy may contract as much as 4% this year, the most in at last 40 years.
This coupled with the emloyment rate and world market conditions could lead to a slow turnaround of the current situation.
To demonstrate the weight of the crises, the Bank of England have slashed the UK's interest rate to its lowest level since the banks conception.
FÁS says it is deeply concerned by the rapid acceleration and believes 2009 will be another difficult year on the jobs.
(DW)(BMcC)
The organisation's announcement comes on the heels of the latest CSO figures putting the standardised unemployment rate in December at 8.3%.
The total number of people on the Live Register increased by 71% last year to 293,500.
The unemployment rate in Ireland is rising at a record pace as companies including Dell Inc. and Waterford Wedgwood Plc cut jobs.
The government has further forecast that the economy may contract as much as 4% this year, the most in at last 40 years.
This coupled with the emloyment rate and world market conditions could lead to a slow turnaround of the current situation.
To demonstrate the weight of the crises, the Bank of England have slashed the UK's interest rate to its lowest level since the banks conception.
FÁS says it is deeply concerned by the rapid acceleration and believes 2009 will be another difficult year on the jobs.
(DW)(BMcC)
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BoI Slammed For Keeping Standard Variable Rate At 4.5%
The Bank of Ireland (BoI) is being slammed for keeping its standard variable rate at 4.5%. The bank reduced its fixed mortgage rate, however it is refusing to cut its "ridiculous" variable rate and is instead effectively trying to force existing customers to lock in to a two year fixed rate, according to Fianna Fail.
BoI Slammed For Keeping Standard Variable Rate At 4.5%
The Bank of Ireland (BoI) is being slammed for keeping its standard variable rate at 4.5%. The bank reduced its fixed mortgage rate, however it is refusing to cut its "ridiculous" variable rate and is instead effectively trying to force existing customers to lock in to a two year fixed rate, according to Fianna Fail.
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Ireland WeatherThis Evening and Tonight:Cloudy with clear spells, mainly dry evening becoming windy with rain at times from late evening. Turning drier with clear spells towards morning. Milder than of late. Minimum temperature 2 °C.
