Joblessness to rise as global banking turmoil continues

CONTINUING turmoil in the global banking sector will lead to rising joblessness and set back global economic growth significantly.

It was now clear the growing lack of credit globally is already having an impact on the numbers at work, warned Rossa White, chief economist, Davy Research.

The latest jobless claims data from Ireland, the US and Britain are a taste of what is unfolding as this crisis deepens, he said.