Ireland’s economic recession cost the country almost 10 percent of its young people, according to figures from the EU, IMF, and OECD.
According to a report from Caritas, a Catholic charity operating across Europe, shows that Ireland has suffered one of the biggest increases in unemployment since the beginning of the crisis.
The report claimed that official figures are inaccurate to the reality of the country’s unemployment situation, saying emigration has kept down the rate and that if those who left the country had stayed, the unemployment rate in Ireland would be around 20 percent, reported the Irish Examiner.
If discouraged workers and involuntary part-time workers were included in the figures, said the IMF last year, overall unemployment would then be above 24 percent.
The labor force declined by 6 percent since the beginning of the economic crisis due to inactivity and the increasing rate of emigration, according to the OECD.
European Commission figures show that the number of people aged 15-24 in Ireland decreased 9 percent between 2007 and 2012.
The Caritas report said that new rules from the EU that aim to get crisis economies on track do nothing to generate growth and jobs in the worst-hit countries, which include Ireland.
According the the report, extensive budget rules brought in under the fiscal compact treaty, are preventing or slowing recovery in countries like Ireland, as they are not allowing for the investment policies vital to creating growth and jobs.