December’s Monthly Unemployment Figures
On January 6th, 2021, the Central Statistics Office (CSO) released the Monthly Unemployment (MU) figures for December, 2020. The CSO continues to publish these figures with and without the impact of the COVID-19 pandemic.
In December, 2020, 179,400 people were classified as unemployed, and their Monthly Unemployment Rate (MUR) was 7.2%. In December 2019, 62,800 fewer people were unemployed and their MUR was lower, at 4.7%. Women account for 47% of those who were unemployed in December 2020, but their unemployment rate was higher, at 7.3%.
In December, 2020 there were 60,700 people aged 15-24 unemployed, 26,900 more young people than at the end of 2019. Their MUR was 19.4% an increase of 8.2% on December 2019. Men account for 59% of those unemployed in this age category and their unemployment rate was higher at 22.5%.
For people aged 25-74, 118,600 people were unemployed, an increase of 35,800 people over the year and their MUR had increased by 1.6 to 5.4%. Women account for 50% of those unemployed in this age category and their unemployment rate was higher at 6%.
The impact of COVID-19
To allow for and capture the impact of COVID-19 on the labour market, the Central Statistics Office produce a lower and an upper bound to the monthly unemployment figures. The ‘upper bound’ assumes that everyone on a COVID-19 unemployment payment would be classified as unemployed. In this case the number of people out of work increases to 510,997 and the unemployment rate is 20.4%. Women account for 48% of those unemployed in this age category, but their unemployment rate was higher at 21.3%.
For people aged 15-24 years, the upper bound of people out of work stands at 134,918 and their Monthly Unemployment Rate (MUR) moves from a lower bound of 17% to an upper bound of 44.8%. Men account for 53% of those unemployed in this age category and their unemployment rate was higher at 46.7%.
While for the older age group, people aged 25-74 years, the upper bound of people out of work stands at 376,079, and their MUR ranges from 5.6% to 17%. Women account for 49% of those unemployed in this age category and their unemployment rate was higher at 18.1%.