Dublin Council of Trade Unions

Monthly Archives: October, 2012

Reason 6: Another Decade of the Jobs Recession

Since the crisis began, unemployment has skyrocketed.  In 2007, unemployment was 4.5 percent.  Today, it is touching 15 percent and, without emigration, it would be even higher.  We have the 5th highest levels of both unemployment and long-term unemployment in the entire EU-27. Nearly 400,000 full-time jobs have been destroyed since 2007.  More than one-in-five …

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Reason 5: One Million People Live in Deprivation

There are one million people who suffer multiple deprivation experiences.  That’s according to the CSO.  They could be suffering a range of deprivations from being unable to heat their home to going without a meal with meat, chicken or fish every second day. Even more worrying is that over 335,000 children suffer from deprivation. A …

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Reason 4: Spending Cuts are Worse

There is little question that spending cuts are more damaging to the economy than tax increases.  The ESRI has studied this issue twice and found the following. €3 billion in spending cuts will drive down the domestic economy by nearly 2 percent.  On the other hand, €3 billion in tax increases will reduce growth by …

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Reason 3: Profits are Recovering – But Not People

When the recession hit, profits fell – as usually happens in the initial stages of any recession.  Much of this decline was due to the collapse of construction firms.  However, profits recovered quickly and are now growing at a considerable pace. Wages, however, have continued to fall. Profits started taking a hit in 2008, as …

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Reason 2: Austerity is Not Even Cutting the Deficit

Is austerity working?  Clearly, it is driving up unemployment, emigration and deprivation while cutting incomes and living standards.  But supporters of austerity say this is the price we must pay to get our deficit under control.  The problem is that austerity is not even cutting the deficit. Since the crisis began, there has been €24 …

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