DUBLIN: Central Statistics Office (CSO) releases new figures on unemployment in Ireland. The CSO points out that the unemployment rate in Ireland until the end of October was 20%.
According to the International Labour Organisation (ILO), in the third quarter of 2020, 31,700 people aged 15 and over lost their jobs in Ireland. The employment rate for 15-64 year olds is 67.7% during this period.
In the wake of the COVID-19 crisis, the employment rate for those aged 15 and over was estimated at 2,078,058 by the end of September. The employment rate was estimated at 61% for 15-64 year olds. In October, it was estimated to be 19,65,209 and 57.5% respectively.
Meanwhile, CSO figures show that unemployment due to the COVID Pandemic crisis stood at 501,640 at the end of October. The unemployment rate during this period was 20.2%.
The rise in the unemployment rate to 6.7% in the third quarter of this year underscores the impact of the pandemic on people’s livelihoods, said Finance Minister Paschal Donohoe.
The increase in PUP in recent weeks also indicates that the Level 5 restrictions have had a major impact on the labour market. A few weeks ago, 350,000 people claimed PUP in one go.
At the same time, the minister said that the construction sector and the manufacturing sector operating openly despite the restrictions would help bring down the PUP. He said more people would return to work if the current Level 5 restrictions are lifted.