Live Register: Domestic Demand is the Key to Job Creation

In the context of Live Register figures that show an unchanged standardised unemployment rate of 14%, Chambers Ireland has today (01/05/13) called for an increased focus from Government on the domestic economy.

Speaking this morning, Seán Murphy, Chambers Ireland Deputy Chief Executive said, “While it is welcome that that there has been no increase in the unemployment rate, it is clear that the economy remains flat. Measures must be taken to drive domestic demand and increase consumer confidence.”

“While much analysis of the economy has been on credit availability, it is becoming increasingly clear that the main problem facing many struggling businesses is a lack of demand. Figures from the ESRI show a peak-to-trough decline in demand of 20%, a figure surpassed only by Iceland. Demand is the key to helping Irish businesses, which will lead to a much needed increase in job creation,” Murphy concluded.