Unemployment to remain high ‘for four years’
And as the Government has finally lowered its growth forecast for the Irish economy, Finance Minister Michael Noonan yesterday revised GDP growth estimates for 2012 down from 1% of GDP to 0.7% of GDP.
In the Stability Programme Update for April 2012, which incorporates the Department of Finance’s Spring Forecasts, the dire employment forecasts have been outlined to the EU Commission despite projected net job creation in the order of 60,000 over the period 2012-15.
