Tag Archives: recession


Ireland’s Bailout Targets and Employment Future

The Organisation for Economic Co-operation and Development says Ireland is emerging from its difficulties, with economic activity and employment slowly recovering.

In a survey of the country published every two years, the Paris based organisation says Ireland’s national debt should peak this year, and is approaching a turning point.

It says Budget strategy rightly aims at putting the national debt on a sustained downward path.

It says reinvigorating long term growth will be essential to ease the burden left by the crisis.

The report urges the Government to persevere with the conditions and targets of the EU-IMF programme and reduce the budget deficit to “below 3% of GDP by 2015″.

This implies the Government may have some €600m to €700m available to ease back on Budget adjustments, and still hit EU targets – if growth lives up to expectations.

If the Government makes the full budget adjustment for 2014, it should achieve a primary surplus – that is it will take in slightly more money than it spends, excluding debt interest costs.

If growth does not materialise as strongly as forecast, the OECD does not recommend going beyond the terms of the bailout programme.

It says longer term challenges to budget sustainability come from rising spending pressure in the health system and from the pension system.

On the banking situation, it notes that Ireland has the second highest level of no-performing loans in the OECD.

The OECD says the risk of a lost generation calls for decisive intervention in the youth labour market. It says because of high and persistent rates of youth unemployment, activation policies are “paramount”.

Ireland has the highest share of young people on income support in the Unemployed PersonEU – 30%. It was already higher than the OECD average – at 10% – before the recession in 2007. Today it is more than three times the OECD average.

It recommends the Dutch model, under which any person aged 18 to 27 seeking social welfare benefits must be offered either work or training or a combination of the two.

“Young people cannot remain inactive, and must accept an offer in order to get social benefits”. It says such an approach keeps social exclusion and marginalisation at bay.

The internship programme – Jobsbridge (8% of spend) is criticised for not being a real internship programme, in that it does little to give first work experience to young people and is more like an incentive scheme for employers.

Unlike most OECD countries, Irish people with only a general education qualification have a higher employment rate than those with vocational training.

Are you providing Internship opportunities, let us at 4pm know where you stand on the use of Interns.

Recycling in Recessionary Time

Given the current financial restraints that we face today  embarking  on a new challenge can be quite daunting. Any new business venture is going to have some element of risk and uncertainty associated with it. Siopaella based in the heart of Dublin’s temple bar has proven that with drive, determination and a good business model you can make any new venture successful.

What makes this business venture so successful?. While the concept of swapping old clothes has been around for some time the geographical location of this shop makes it more appealing to potential customers. Having somewhere to bring your old tired clothes, give them a new loving home and potentially make a few euro all in the one transaction can be  very appealing. Who doesn’t like the idea of bringing in a pair of old jeans and walking out with a Chanel bag. Every womans dream right? Utilizing this concept has proven to be successful for Siopaella. Operating a business in recessionary times can be something that can be fun, enjoyable and successful.


Here at 4pm we try and cater for people who have a variety of budgets with varying requirements. 4pm can take the hassle out of designing your website for you and we will also facilitate your online marketing needs. Just like swapping your old clothes for something new and exciting, why not let the team here at 4pm help you update your website and swap it for something more new and modern. Feel free to call us on 014978671 for a consultation and let us help you promote your business successfully in recessionary times.