A Clare-based recruitment specialist predicts layoffs by companies and a resetting of the economy from next year, due to the impact of the rising cost of living.
It comes in the wake of a new report published this week, which found that more than seven in ten young people aged 18 to 24 are considering moving abroad.
A new report published this week by the National Youth Council of Ireland found that 70% of young people aged between 18 and 24 are thinking about emigrating, because they think they’d enjoy a better quality of life.
Among the key findings in the research carried out by RED C are; eight in ten are worried about the future, with one in two reporting that their mental health had worsened due to the rising cost of living.
Almost one in two said they’re struggling to make ends meet and more than a quarter said their experience with housing in the past six months has worsened.
The CEO of Shannon Chamber says history is repeating itself and because people’s disposable income is being eroded by the cost of living, it’s becoming more challenging for younger people to enjoy a reasonable standard of living here.
Helen Downes says feedback from industry is that current costs are not costs young people can absorb.
A Clare-based recruitment specialist says Ireland has never been in a better positioning when it comes to employment, with plenty of jobs available to most people.
But Joe Robbins of Careerwise Recruitment in Shannon says labour costs are now getting to a level that’s unsustainable, with many American companies in particular planning to cut back on recruitment next year.
He fears we’re heading into a period of difficulty.
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