Labour Party deputy leader and finance spokeswoman Joan Burton said the Government must take steps to tackle rising unemployment.
Ms Burton was speaking after the Economic and Social Research Institute (ESRI) today forecast 40,000 job losses next year, with net emigration of around 30,000.
“Today’s ESRI Quarterly Economic Commentary forecasts an even longer and deeper economic slump than had been predicted up to now,” said Ms Burton.
“The most alarming finding of all is its forecast that unemployment will reach 8% next year. It is more important than ever that the Government bring forward a jobs strategy to deal with the spiralling problem of unemployment.
“If the Dáil can sit all night to rescue the banks, then similarly urgent action should be taken to deal with the jobs crisis.”