The unemployment rate rose once again this month up from 15.9 per cent in September to 20.2 per cent for October, according to data from the Central Statistics Office (CSO).
The CSO said that the Covid-19 adjusted unemployment measure for October 2020, which includes those in receipt of the Pandemic Unemployment Payment, shows an unemployment rate of 20.2 per cent.
In terms of the figures by sex, 18.9 per cent of males and 21.7 per cent of females in the labour force are unemployed.
If you look at the age breakdown, the unemployment rate is 45.3 per cent for people aged 15 - 24 years and 16.7 per cent for those aged 25 - 74 years.
That is a distinct rise in youth unemployment from September when it was 33.8 per cent to 45.3 per cent in October.
They also said at least 8.1 per cent of PUP recipients have self-certified themselves as being registered as a full-time student.
COVID-19 crisis continues to impact labour market in October 2020https://t.co/hGlojPVhgG #CSOIreland #Ireland #LabourForce #LabourMarket #LiveRegister #Jobs #Employment #Unemployment pic.twitter.com/zMWLcczFZQ
— Central Statistics Office Ireland (@CSOIreland) November 4, 2020
Youth unemployment
Speaking about today's figures Catalina Gonzalez, CSO statistician said:
‘The Covid-19 crisis has continued to have a significant impact on the labour market in Ireland in October 2020.
"While the standard measure of monthly unemployment is 7.3 per cent in October 2020, the Covid-19 Adjusted Measure of Unemployment indicates a rate as high as 20.2 per cent if all claimants of the PUP were classified as unemployed.
Meanwhile, Jack Kennedy, economist for Indeed said:
"Today’s figures begin to show the effect of more lockdown measures, with a rise in the Covid adjusted unemployment rate to 20.2 per cent.
"Inevitably, sectors directly affected such as beauty and wellness, hospitality and food service, will feel the impacts more harshly.
"The Covid adjusted rate peaked at 28.2 per cent in April, time will tell if we reach that level again over the coming months."
He said the new data also shows that vulnerable labour force groups are more exposed as a result of the pandemic.
He added "We are also seeing a disparity between regions, with many of those in western counties at higher risk due to the larger proportion of smaller businesses and consumer facing roles."
