Monday 16 January 2017

Tom Boland: Cutting back the working week is key to job creation

Tom Boland

Published 03/03/2014 | 02:30

Cutting back the working week is key to job creation. Picture posed. Thinkstock
Cutting back the working week is key to job creation. Picture posed. Thinkstock

Recovery in Ireland is most frequently measured in terms of job creation. Enda Kenny recently promised to restore the 330,000 jobs lost since 2006 by 2020. That's over 4,000 new jobs per month for six years straight.

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However, 330,000 new jobs will not restore us to 2006. The birth rate has outpaced the death rate by around 40,000 on average since 2002. Population growth has been kept in check by emigration since 2010, but that tide is turning. Without emigration, there will be over 200,000 more people in Ireland by 2020. The problems of high youth unemployment and long-term unemployment will be persistent.

Furthermore, the official rate of unemployment of 12.5pc is distorted downwards by not counting the many thousands who are involved in internships and work experience.

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