Recession over, as unemployment soars

Published on 1 July 2010 at 10:06

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“Recession is over but dole queues will get longer,” leads the Irish Times. The Dublin daily strikes a dubious note with the release of statistics showing that after two years of shrinkage Irish GDP grew by 2.7% in the first quarter of 2010. However, the daily notes that "by another measure - gross national product (GNP), which excludes earnings of foreign-owned firms based in Ireland – the economy continued to contract, shrinking by a further 0.5%.” Meanwhile, latest unemployment figures released on the same day show that 13.4 per cent of the workforce is signing on.

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