A disappointing but unsurprising statistic.
One in every four people in Ireland are unemployed, as of January this year.
The Central Statistics Office (CSO) reported that the Covid-19 adjusted unemployment rate rose to 25% in January, up from 19.4% in December.
On Monday 25 January, 475,364 people were in line to receive the Pandemic Unemployment Payment (PUP), with accommodation and food service activities the worst-hit sector.
Commenting on the figures, Jack Kennedy of employment website Indeed said the rollout of the Covid-19 vaccine will be vital in terms of its impact on the economy.
He said: “Today’s startling figures show the return to national lockdown has applied the brakes to the economy once more. With the country facing several more months under tight restrictions, the rapid roll-out of the vaccination programme is now vital, both for public health and for the health of the economy.
“On a macro level, it will be interesting to see how many of the changes Covid has brought are here to stay. We’ve seen significant behavioural change affect industries like retail, with high street shops suffering from lack of footfall and ultimately closing.
“It’s possible we will see the job profile in this industry transform as it moves from bricks and mortar to more online selling. We already saw a rise in warehouse and delivery jobs last year, it now looks like this could be less of a temporary trend and more of a cultural shift.”
As of 1 February, approximately 200,00 vaccines had been administered across Ireland.
Kennedy also touched on the effects Brexit may have on jobs across the country.
He said: “Brexit may also bring lasting change to the shape of the labour market. Industries highly sensitive to supply chain issues will likely continue to transform and adapt in order to circumvent these challenges, bringing new opportunities for the labour market.”
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