On March 3rd, 2021, the Central Statistics Office (CSO) released the Monthly Unemployment (MU) figures for February, 2021. 140,800 people were classified as unemployed, 15,600 more people than in February 2020. The Monthly Unemployment Rate (MUR) was 5.8%, 0.8 higher than a year ago. Unemployment increased for both men and women over the period, with women accounting for 45% of the unemployed in February 2020 and February 2021.
In February 2021, 40,300 people aged 15-24 were unemployed, 2,000 more young people than a year ago. Their MUR was 15.1%, while in February 2020 it was lower at 12.3%. Over the year unemployment decreased amongst young men by 31% to 15,600, while it increased amongst young women by 59% to 24,700. In February 2021, women account for 61% of those unemployed in this age category and their unemployment rate was higher at 18.9%.
For people aged 25-74, 100,600 people were unemployed, an increase of 13,700 people over the year and their MUR had increased by 0.7 to 4.7%. Over the year unemployment for women decreased by 5% to 39,000, while it increased by 34% for men in this age group to 61,600. Women account for 39% of those unemployed in this age category and their unemployment rate was 4%.
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 596,668 and the unemployment rate is 24.8%. Women account for 44.6% of those unemployed in this age category, and their unemployment rate was 24%.
For people aged 15-24 years, the upper bound of people out of work stands at 141,696 and their Monthly Unemployment Rate (MUR) moves from a lower bound of 12.2% to an upper bound of 56.8%. Women account for 51.7% of those unemployed in this age category and their unemployment rate was higher at 61%.
While for the older age group, people aged 25-74 years, the upper bound of people out of work stands at 454,972 and their MUR ranges from 4.5% to 21.1%. Women account for 42% of those unemployed in this age category and their unemployment rate was 19.5%.