On February 3rd, 2021, the Central Statistics Office (CSO) released the Monthly Unemployment (MU) figures for January, 2021. In early January, the CSO published that 179,400 people were classified as unemployed, and their Monthly Unemployment Rate (MUR) was 7.2% in December 2020. These figures were revised in February’s release noting that 140,900 people were unemployed and their unemployment rate as 5.8% at the end of last year.
In January 2021, 142,200 people were classified as unemployed, 15,900 more people than in January 2020. Their Monthly Unemployment Rate (MUR) was 5.8%, 0.7 higher than a year ago. Women account for 45% of those who were unemployed in January 2021, and their unemployment rate was 5.6%.
In January 2021, 43,300 people aged 15-24 were unemployed, 3,700 more young people than at the beginning of 2020. Their MUR was 15.7%, it was lower in January 2020 at 12.4%. Women account for 57% of those unemployed in this age category and their unemployment rate was higher at 18.2%.
For people aged 25-74, 98,900 people were unemployed, an increase of 12,200 people over the year and their MUR had increased by 0.6 to 4.6%. Women account for 39% of those unemployed in this age category and their unemployment rate was 3.9%.
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 607,190 and the unemployment rate is 25%. Women account for 44% of those unemployed in this age category, but their unemployment rate was 24.1%.
For people aged 15-24 years, the upper bound of people out of work stands at 143,943 and their Monthly Unemployment Rate (MUR) moves from a lower bound of 11.7% to an upper bound of 56.4%. Women account for 50.8% of those unemployed in this age category and their unemployment rate was higher at 59.5%.
While for the older age group, people aged 25-74 years, the upper bound of people out of work stands at 463,247 and their MUR ranges from 4.5% to 21.4%. Women account for 42% of those unemployed in this age category and their unemployment rate was 19.7%.