NIB predicts increase in long-term unemployment
National Irish Bank is predicting a sharp increase in long-term unemployment as a result of the current economic downturn.
In its latest economic assessment, the bank says it expected 45,000 people to be rated as long-term unemployed by 2010, compared to 28,000 this year.
Elsewhere, it also predicts that GDP growth will be 1% this year, despite ESRI predictions of a 0.4% reduction in growth.
NIB says it is predicting a modest recovery next year driven mostly by a growth in exports.
