Forecast sees recession ending in 2011
Unemployment will hit 13% but it will be 2014 before the economy returns to its 2007 peak in real terms. And it will take 12 years to regain the net jobs lost in just three declining years.
The survey indicates the island of Ireland economy will shrink by 6.7% in 2009 – revised down from 7.8% – with the North experiencing the worst economic contraction on record for this period. However, tentative recovery is forecast with the all-island economy estimated to contract just 0.3% in 2010 with the North exiting recession, according to the forecast&.
