Recession
Hi Captain Planet,
Firstly, let me say, I'm oddly one of the optomistic ones out there. In fact strangely the company I'm with are increasing employment. And there are many more out there doing the same.
However, the civil service currently has too many people in all the wrong places. Jobs for life comes to mind. Until we read yesterdays Sunday Business Post and low and behold, civil servants may be made redundant/let go/retired. So the cuts are getting more interesting.
Next unemlpoyment - when was the last time you could get an Irish builder to build an extension? an Irish plumber to fix a tap? etc etc. There has been a move for many non Irish people to move home to newer EU Nations.
.6% - this has been forecast down and down again as the year as gone on. It started somewhere around 4.5%, dropped to 2.9 and now we're at .6%.
I think the overall point is, we as a nation don't own oil wells, so we're going to have to get used to driving smaller cars, and generally pulling in the horns somewhat. With that, we've 3 "Major" airports, along with the regionals. The regionals needed to come up from being third world and they have! With big new shiny fire engines and acres of ramp. And they service the near continent and UK.
The government is being forced to pull in it's horns and it knows the public will scrutinise the spending. So, new runway for Waterford or build a school? You can guess who'll win.
On the positive side. The rest of the economy is currently going well. Building will settle down later in the year and more normal growth will begin to surface. Providing oil calms somewhat too and we get a chance to catch up.
Shamrogue