Reality check... cost of a job leaves no margin for profit that creates it

UNEMPLOYMENT has reached 354,000 and is rising at the rate of 1,000 per day. Brian Cowen told the Dáil it could exceed 450,000 by year end. All his estimates to date have been overly optimistic. The reality is that we face the prospect of more than half a million jobless.

The rhetoric of official Ireland about unemployment is becoming predictable and tiresome. They emptily empathise and prioritise “jobs, jobs, jobs” as the key policy and political objective.

At local level ashen-faced politicians and trade union leaders support delegations of former workers. They meet with receivers and liquidators to preserve residual jobs and seek compensation packages.