Under 25s Unemployment Sparks Brain Drain Fear

Fears over an Irish 'brain drain' have mounted following the latest live register figures, which show the amount of under 25s now claiming benefits has doubled.

Fine Gael's Innovation Spokeswoman Deirdre Clune TD has called on Tánaiste Minister Mary Coughlan to introduce a detailed plan to tackle the spiralling number of young people losing their jobs, which she says could lead to a brain-drain.

Speaking today, Ms Clune said: "The unemployment figures for December 2008 show that 62,311 people under the age of 25 are now on the live register, almost double the figure of 33,289 in December 2007.

"It has become increasingly common over the last few months to hear of young Irish people planning to emigrate, or who have already moved abroad to find work. There is a serious danger of a brain drain as a result of our youngest people leaving the country, which will be very damaging for the economy in the long term.

Ms Coughlan added that the Government needs to improve Irish competitiveness to protect existing jobs, give employers PRSI relief on any additional staff they take on to help create new jobs.

The news comes as the Bank of Ireland releases figures predicting the unemployment rate in the North could rise to 6% by the end of this year.

At present, around 34,000 people are out of work, but the bank says this could rise to 50,000 by the end of 2009.

It also says the collapse in the housing market shows no sign of recovery, with the average house price falling to £170,000.

Amid the release of increasingly pessimistic figures, the Government have planned a week of intensive activity in an effort to address the ongoing crisis. The Taoiseach, Brian Cowen, is due to chair two cabinet meetings during the week as negotiations with the social partners get underway at Government Buildings.

The talks will focus on ways to protect the economy and overcome the massive deterioration in the public finances last year.

(DW/BMcC)