ESRI warns jobs crisis could last for five years

The Economic and Social Research Institute (ESRI) says Ireland's jobs crisis will continue for at least another five years unless the Government takes radical action to tackle the situation.

The economic think-tank is holding a series of meetings today to discuss the policies needed to halt spiralling unemployment.

In its latest analysis, the organisation says up to 300,000 more people could lose their jobs by the end of next year, with the unemployment rate hitting 17%.

The ESRI says Ireland will only be able to take advantage of an upturn in the global economy if it puts effective policies in place to boost the labour market.