Jobless hike ‘may lead to further market slump’

A SENIOR economist has warned the first increase in the number of dole claimants in four months could just be the start of a further slump in the labour market due to the austerity measures introduced by the Government last month.

Figures released by the Central Statistics Office showed the numbers on the seasonally adjusted live register increased by 5,200 to 444,000. That meant a 3.2% increase in the number signing on at the end of 2010 compared to the end of 2009.

The unemployment rate at the end of December stood at 13.4%, up from 13.2% in November.