Today’s CSO figures confirm the massive reverse suffered by the Irish economy. Talk of having ‘turned a corner’ is more hope than reality. What is needed now is a coherent and resolute strategy to promote jobs.

Irish GNP declined 12.1% in the first three quarters of 2009 compared to the same period in 2008. GNP is now back to 2004 levels and is set to fall further in 2010. Ireland is experiencing one of the worst economic downturns of any developed country since the Second World War.

The saddest part of this recession is not the output statistics, but the 10,000 people who have lost their jobs every month over the last year.

The Fianna Fáil led government has no coherent strategy to tackle the escalating jobs crisis. They already have written off another 70,000 jobs for next year. Meanwhile, somebody somewhere is writing another report on the so-called Smart Economy. While there is a blank cheque for the banks, Fianna Fáil is always one more report away from doing anything serious on jobs.

It is widely expected that unemployment will continue to climb towards 14% – 15% in 2010.Were it not for the return of mass emigration, the dole queues would be sure to top half a million in 2010.

While exports are continuing to hold up well, it is domestic demand which is holding the economy back. Consumer confidence is on the floor, and last week’s budget will make things worse. By targeting those on welfare and low incomes, the very people who have to spend all of their income to make ends meet, Fianna Fáil are inflicting even more pain on the economy and creating even more unemployment.

Central to Labour’s Alternative Budget Programme was a €1.15 billion Jobs Fund allocated to shovel-ready capital projects and training programmes.