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ESRI not expecting big increas...

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ESRI not expecting big increase in unemployment figures

RedFM News
RedFM News

08:15 5 Oct 2022


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A jobs expert doesn't believe the cost of living crisis will lead to a huge increase in unemployment figures.

The ESRI has released a new report looking at the reasons why people are more likely to become long term unemployed.

Not having access to transport, low levels of education and previous participation in a Community Employment scheme were some of the factors that lead to people struggling to return to work.

Seamus McGuinness authored the report and says it's not certain our current economy will lead to massive job losses.

"The inevitable consequences of a cost living crisis is that there's going to be a slowdown in the economy and that affects the labour market as well.

"But there was always a lot of extra movement in the labour market for people moving between jobs.

"So it's not necessarily the case, particularly in a situation where we probably have excess demand in the labour market at the moment, that a reduction in the level of demand due to the economic slowdown will result in a rise in unemployment, and I think that's a fair enough assumption"


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