ESRI predict 90,000 workers required in 2018/19; Warning against fiscal stimulance in budget

ESRI predict 90,000 workers required in 2018/19; Warning against fiscal stimulance in budget

90,000 foreign workers will be needed over the next two years to prevent a labour shortage, according to the ESRI.

The think-tank has released a new report ahead of the publication of the Government's Summer Economic Statement later.

It claims the unemployment rate will drop to just 5% in 2019 - meaning thousands of staff will be needed to fill new posts.

Overall the economy is growing very strongly at the moment.

However, Seamus Coffey from the Irish Fiscal Advisory Council says the Government needs to resist the temptation to overspend in the next Budget.

"There is no need for fiscal stimulance now with the unemployment rate falling, employment increasing. We are begining to see some wage increases across the economy.

"The issue is to try and get the balance right. We have not got it right for the last 40 or 50 years. The government are talking a good game so hopefully they can deliver.

- Digital Desk

More on this topic

Alison O'Connor: Each decade brings stark choices that impact our nation’s childrenAlison O'Connor: Each decade brings stark choices that impact our nation’s children

Letter to the Editor: Another bust is comingLetter to the Editor: Another bust is coming

Eurozone recession fears on the riseEurozone recession fears on the rise

Did big economies get it wrong after the crash?Did big economies get it wrong after the crash?


More in this Section

Varadkar defends Government risk in Covid-19 small business loan schemeVaradkar defends Government risk in Covid-19 small business loan scheme

British economy grew 1.8% in May after record drop in AprilBritish economy grew 1.8% in May after record drop in April

France to unveil 'massive' stimulus this week to stop youth unemployment soaringFrance to unveil 'massive' stimulus this week to stop youth unemployment soaring

Irish e-scooter firm included in UK's post-Covid alternative public transport trialsIrish e-scooter firm included in UK's post-Covid alternative public transport trials


Lifestyle

Conservationist Giles Clark takes on the illegal wildlife trade, as well as the task of building a bear sanctuary in Laos, South-east Asia, in BBC Two series Bears About The House.Five minutes with ... Giles Clark

Forget G-spots. Let's focus on the C-spot and close the orgasm gap once and for all.Sex File: The G-spot is dead. Long live the C-spot

Workshop leaders from the West Cork Literary Festival offer tips for writing in areas such as biography, short stories and travel, writes Des O’DriscollSo you want to be a writer?

'He told us we were so scared of dying, we forgot how to live” - Guru: The Dark Side of Enlightenment is this week's podcast pickPodcast Corner: Guru tells of sweat-lodge tragedy and James Arthur Ray

More From The Irish Examiner