Review

In addition to rising unemployment, a number of other recent indicators show the impact of the economic crisis on working people.
Car sales registered in March fell by 64 percent compared to the same month in 2008. Total car sales are expected to be just 60,000, the lowest since 1993. New goods vehicles issued with licences fell from 3,858 in March 2008 to just 915 in March 2009.
Over all areas of retail activity, sales fell 21 percent in the year to February, although this was a marginal improvement on January, when sales fell 27 percent. Even food sales have fallen by 5.5 percent. Some 25,000 retail workers are expected to be laid off this year alone.
The near collapse of the financial system has not stopped personal debt levels from continuing to spiral. The Money and Advice Budgeting Service (MABS) reported to an Oireachtas (parliament) committee that the proportion of their clients with mortgage problems has risen from 18 percent to 27 percent this year, while the average debt on clients' credit card has gone from €3,833 in 2006 to €8,009 in 2009.