Ireland: Recession over, as unemployment soars
1 July 2010
The Irish Times
“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.