Irish Diseases Return to Economy as Jobs Scarcity Spurs Exodus
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Unemployment and emigration, the twin diseases that blighted Ireland in the 1980s before its economic boom, are returning to ail the country after the bust.
The jobless rate will probably remain above 14 percent through the next year, according to economists at Allied Irish Banks Plc and Ulster Bank in Dublin. That’s double the level of three years ago. The unemployment rate was 14.2 percent in June and the statistics office will publish July data at 11 a.m. tomorrow. Meanwhile, more people are leaving the country than at any time since 1989.