Ireland

Irish economy still has a long way to go in recovering from Covid-19

Labour force figures from the Central Statistics Office (CSO) for the second quarter of this year highlight the improvements in both employment and unemployment data as much of the Irish economy opened up over the summer months.

In terms of the Covid-adjusted employment data, there were 2.12 million people between the ages of 15 and 89 in a job at the end of June – with a Covid-adjusted employment rate of 61.7 per cent for those aged 15-64. By the end of July, the number had risen to 2.18 million at work, for a rate of 63.7 per cent, and by the end of August, the number had risen again to 2.2 million for a rate of 64.3 per cent.

This coincided with the reopening of the hospitality industry and a resumption of non-essential air travel.

In terms of the Covid-adjusted unemployment rate, the estimate is that 413,687 people between the ages of 15 and 74 were jobless at the end of June, giving a Covid-adjusted unemployment rate of 16.2 per cent for this age bracket. Move on a month and the number had declined to 356,648 unemployed for a rate of 13.5 per cent. By the end of August, the number had fallen again to 335,178 to give a rate of 12.4 per cent.


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