ISME, the Irish Small & Medium Enterprises Association, has expressed serious concern at the latest increased redundancy figures, released today (Friday 2nd October), which confirm that businesses are still finding trading conditions extremely tough. The Association predicts further job losses over a protracted period, unless Government action is taken.

The figures confirm that there have been 60,785 redundancies to date, an increase of 122% on the same period last year. In the nine months to September we have seen a similar number of redundancies as we had in the last six years of the last century and already we have 20,000 more redundancies in the year than for the whole of 2008. 44% of job losses were in the Manufacturing and Construction sector with 39% from service businesses. Females now account for 32% of redundancies, as job losses continue to be spread throughout the whole economy.

"While the live register figures reported earlier this week indicate a slowing down in numbers 'signing on', the latest redundancy figures confirm that we have a long way to go, as the curse of job losses is set to continue. With no evidence of an improvement in trading conditions, wage cuts and reduced working hours are the norm for the private sector, with many companies left with no option but to let people go," according to ISME Chief Executive, Mark Fielding.

"Ironically, as the labour market remains in crisis, the Trade Unions are threatening economic sabotage by demanding pay increases together with widespread strikes. The lunacy and futility of this policy is self evident and will do untold damage to the Economy, undermining our international reputation and increasing labour costs, when the exact opposite is required," Fielding continued.

He called for the immediate announcement of a National Employment Strategy with the specific aim of introducing initiatives to assist business in maintaining and growing employment. These initiatives should include tackling the barriers to business, which are contributing to job losses, including costs, late payments and lack of credit. Initiatives that would benefit companies, including a reduction in Employers PRSI and an extension of the Employment Subsidy Scheme must also be introduced.