The rate of unemployment is set to grow significantly over the next two years, with the construction sector experiencing the most job losses, according to the FÁS.

In its quarterly labour market report, the State training and employment agency has predicted unemployment will climb to 5.5% this year, before hitting 6.6% in 2009.

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Economist Brian McCormick said that men will be worst affected due to their large numbers in the declining construction and manufacturing sectors.

The agency estimated that the construction sector could experience a loss of up to 37,000 jobs this year - much higher than predicted by other economists.

The report also revealed that since the beginning of this year the number of construction-related apprentices has fallen by over a half, compared to the same period in 2007.

(VB/JM)