The Temple Bar, Dublin.
Young Irish are fleeing the small nation as the unemployment rate has stayed at 14% and continues to climb. Since the country’s bailout in November 2010, employers have cut jobs.
Irish plight in the Eurozone has gone largely unnoticed due to the chaos in Greece and Portugal. Exports grew by 3.8% last year, but some of the country’s largest employers have said they will cut jobs throughout the year.
Real estate, just like in the United States, was a large contributor to Ireland’s economic collapse. Young graduates can’t find jobs, as competition is fierce, and employers can afford to be choosy. People want to work, but there just aren’t jobs for them.
The Irish government is beginning to offer loans and low interest rates to small businesses in order to encourage growth. They also are revamping their unemployment benefits program, to help those out of a job the longest find jobs again. Unfortunately, the Irish middle class are bracing for a year of what could be exceptional hardship.
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