Cowen: Economy can cope with unemployment rises

The Taoiseach Brian Cowen has said that the economy is in a strong enough position to withstand the rise in unemployment.

Mr Cowen was responding to new CSO figures released today which show that unemployment has hit a five-year-high of four-point-eight per cent.

There are now more than 100,000 out of work here, a 10% increase since last year.

While the number of men out of work has risen sharply by 11,000.

A total of 10,000 of these job losses were in the construction sector alone.

While the Taoiseach said there was no room for complacency, he has assured the public that the economy remains strong.


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