Live Register Figures - SFA Comment

10% Unemployment Rate Welcome

9% achievable by year end

The Director of the Small Firms Association, Patricia Callan has welcomed the continuing downward trend in the live register figures, which were released today and showed that the unemployment rate is now 10%. She stated that “small businesses will continue to create new jobs throughout 2015, so long as it makes financial sense for them to do so. A 9% unemployment rate is entirely achievable by end 2015”.

Callan commented “Small businesses truly are the engines of our economic recovery. We have a vital role to play in terms of employment generation, especially in regional towns and villages and rural Ireland.” However she cautioned against increasing the business cost base, in particular moves to increase the National Minimum Wage, stating “increasing business labour costs without productivity gains, will not only dampen this recovery, but will ultimately lead to both the prevention of job growth and to job losses across the sector.”

“The SFA believes that the formula of allowing business to operate in a competitive environment, thereby increasing returns to the Exchequer, and consequently allowing the Government to adapt taxation and welfare systems to match perceived social needs, is to be recommended over simply increasing the cost of production, which has a negative economic impact. It is not the job of business to redistribute wealth, but to create wealth, which can be redistributed by Government”, concluded Callan.

Ends.
For further information, please contact Patricia Callan, SFA Director, at Tel: 01 605 1602 or 087-6999345, e-mail: patricia.callan@sfa.ie, Twitter: @SFA_IRL

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Patricia Callan
Director, SFA
84/86 Lower Baggot Street
Dublin 2
T: +353 1 605 1602
M: +353 87 699 9345
E: patricia.callan@sfa.ie
W: http://www.sfa.ie, http://www.sfa.ie/awards
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