The unemployment rate, including those in receipt of the Pandemic Unemployment Payment (PUP), was 20.4 per cent in December.
Looking at these figures by sex, 19.6 per cent of males and 21.3 per cent of females in the labour force were unemployed
The rate for those aged 15 to 24 was 44.8 per cent, while it was 17 per cent for those aged 25 to 74.
The Central Statistics Office figures include PUP but they also offer figures excluding the payement.
Excluding those in receipt of PUP, the unemployment rate was 7.2 per cent last month, down from 7.3 per cent in November.
Covid-19 Adjusted unemployment rate
Statistician Catalina Gonzalez said: “This analysis indicates that caution needs to be exercised when interpreting the Covid-19 Adjusted Measure of Unemployment particularly for those aged under 25 years.
“If the PUP scheme did not exist, those persons, being in full-time education, would not be eligible to receive Unemployment Assistance or Unemployment Benefit and so would not be included in the methodology to estimate the traditional measure of monthly unemployment.”
Commenting on the figures, Jack Kennedy, economist at job site Indeed, said: “Although we saw a marginal improvement, December unemployment figures did not provide much relief at the end of a rough year, despite the economy briefly re-opening. Continued pandemic uncertainty and Brexit negotiations running down to the wire meant it was a stressful and uncertain time for businesses trying to plan for 2021.
“While the year ahead may pose some new challenges as the longer term impacts of the pandemic come to light, there is good reason to be optimistic. There’s every chance that once the vaccine rollout is widespread, sectors like hospitality could make a roaring comeback as deferred spending comes back on stream.”
Brexit
Mr Kennedy said that Brexit could also provide a benefit to the country as sectors that normally face talent shortages could attract Europeans who would have looked to the UK in the past.
"With a Brexit agreement now in place, and the UK’s migration policy pivoting, Ireland may see more interest from Europeans who would have previously looked to the UK. This could be good news for sectors that traditionally face talent shortages such as tech and healthcare.”
