Social Justice Ireland believes the Government’s ‘Jobs Initiative’ is far too small to make any impact of substance on Ireland’s record level of long-term unemployment. The proposals contained within the Jobs Initiative are welcome as far as they go but there will be no major reduction in the numbers long-term unemployed for the foreseeable future without far more radical action being taken aimed directly at reducing the numbers long-term unemployed.
The Government has revised its macroeconomic and fiscal projections. The updated Stability and Growth Programme (published April 29, 2011) forecasts growth in GDP (gross domestic product) to be 0.75% compared to the forecast published with the Budget last December.
The International Monetary Fund (IMF) World Economic Report published Monday, April 11, 2011, shows Ireland as having the fastest-growing economy, as measured in nominal GDP terms, among the European periphery countries (Greece, Portuga