This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/northern_ireland/7845711.stm

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
'Steamroller' recession on way 'Steamroller' recession on way
(about 3 hours later)
An economist has predicted unemployment levels in Northern Ireland later this year could be double that of 2007.An economist has predicted unemployment levels in Northern Ireland later this year could be double that of 2007.
When GDP figures are released later on Friday morning it is expected to show the UK economy has continued to shrink and gone into recession. Economy data released on Friday morning confirmed that the UK economy has continued to shrink and is now in recession.
John Simpson said the recession was an "unstoppable steamroller", leading to many more job losses. In December 2007 there were 24,000 people unemployed.John Simpson said the recession was an "unstoppable steamroller", leading to many more job losses. In December 2007 there were 24,000 people unemployed.
"Best estimates are that it could reach 48,000 later in 2009," said Mr Simpson."Best estimates are that it could reach 48,000 later in 2009," said Mr Simpson.
"On a month-by-month basis the number of people unemployed is rising, rising quickly and will go on rising for several months," he added."On a month-by-month basis the number of people unemployed is rising, rising quickly and will go on rising for several months," he added.
"The waves of redundancies started in the construction industry."The waves of redundancies started in the construction industry.
"Then signs of lower consumer confidence, along with lower spending in the shops, hit the retail sector last autumn and are still falling.""Then signs of lower consumer confidence, along with lower spending in the shops, hit the retail sector last autumn and are still falling."
Mr Simpson said Northern Ireland would "probably not" experience as deep a recession as the rest of the UK.Mr Simpson said Northern Ireland would "probably not" experience as deep a recession as the rest of the UK.
"Current government spending is higher proportionately and the farming and food processing sectors are less volatile," he said."Current government spending is higher proportionately and the farming and food processing sectors are less volatile," he said.