Bleak forecast predicts 117,000 extra job losses

A BLEAK picture of an economy unable to avoid extended international turmoil has been presented in the winter report of the Economic and Social Research Institute (ESRI).

The final forecast of the year has predicted the amount of people working will fall by 117,000 in the next 12 months and unemployment will hit 9.4% — more than twice what it was last year.

The ESRI also estimated 50,000 will leave the country to work in the next 12 months.