Slowing rate of redundancies shows economic recovery is under way - Minister O’Keeffe

The Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD, has said the slowing rate of redundancies shows that economic recovery is under way.

The number of redundancies lodged to the Department last month was lower than in any month last year bar December and, with the exception of May, it is the lowest so far received this year.

Minister O’Keeffe was responding to the latest live register figures.

‘Behind every job loss statistic is a human story and we must continue to tackle unemployment with a range of policy measures that effect economic recovery.

‘The rise in the live register figures, which is common in the summer and due to seasonal factors, will be reversed in the autumn.

‘The figures count over 64,000 part-time workers and I am working with the Minister for Social Protection on plans to put these people back on a five-day week,’ said Minister O’Keeffe.

He pointed out that the number of redundancy claims lodged for the first seven months of this year amounts to 39,105 - a 20pc drop on the level filed for the same period last year.

‘This is a positive indicator that the rate of redundancies is slowing,’ said Minister O’Keeffe.

Minister O’Keeffe dismissed Opposition remarks on the latest live register figures, saying they traded on popular sentiment rather than proposed credible plans to tackle unemployment.

‘Labour, for example, wants a new strategic investment bank which would denude existing banks of much-needed capital we need to lend to viable small businesses.

‘The party also proposes spending on public infrastructure projects - except the Government already has a €39.5 billion plan in place to bolster Ireland’s recovery and support 30,000 direct jobs annually in the economy.

‘Fine Gael, meanwhile, does not even believe its own spin after the party’s finance spokesman killed the NewERA jobs plan.

‘Our policies are helping Ireland to emerge from recession and to avoid another period of protracted recession.

‘We will persist with our policies, help unemployed workers to get back into the labour force and create conditions conducive to job creation,’ said Minister O’Keeffe.