Household incomes down 5% since 2009

Austerity measures cut Irish household incomes by about 5% in the past four years — hitting the better-off more, except for the latest budget which affected the poorest families most.

Overall the economic crisis coupled with the austerity policies are having a devastating effect on employment, living conditions, and even the birth rate, according to the latest quarterly analysis by the European Commission.

It is now a social crisis, with the number of young people who are not in jobs, education, or training at an all-time high and joining the ranks of the long-term unemployed at a faster pace than ever.