At least 75,000 jobs to go before unemployment reaches peak

AT least 75,000 more jobs will be lost before unemployment reaches its peak and the economy is set on the road to recovery in the middle of next year.

Finance Minister Brian Lenihan said “there is light at the end of the tunnel” but figures he presented yesterday indicated things will get worse before they get better.

The Government’s pre-budget outlook said Ireland will lag behind the modest worldwide economic recovery which is already under way.