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March 2021, Monthly Unemployment Figures

31 March 2021 - 11:10 am


RATE

On March 31st, 2021, the Central Statistics Office (CSO) released the Monthly Unemployment (MU) figures for March, 2021. 137,100 people were classified as unemployed, 14,800 more people than in March 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 46% of the unemployed in both March 2020 and March 2021.

In March 2021, 36,900 people aged 15-24 were unemployed, 400 more young people than a year ago. Their MUR was 14.9%, while in March 2020 it was lower at 12.6%.  Over the year unemployment decreased amongst young men by 35% to 12,600, while it increased amongst young women by 43% to 24,200. In March 2021, women account for 66% of those unemployed in this age category and their unemployment rate was higher at 19.9%.

For people aged 25-74, 100,200 people were unemployed, an increase of 14,400 people over the year and their MUR had increased by 0.7 to 4.7%. Over the year unemployment for women decreased very slightly to 39,000, while it increased by 32% for men in this age group to 61,200. 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 571,111 and the unemployment rate is 24.2%. Women account for 45% of those unemployed and their unemployment rate is 23.7%.

For people aged 15-24 years, the upper bound of people out of work stands at 139,203   and their Monthly Unemployment Rate (MUR) moves from a lower bound of 13.7% to an upper bound of 59.2%. Women account for 53% of those unemployed in this age category and their unemployment rate was higher at a staggering 64.7%.

While for the older age group, people aged 25-74 years, the upper bound of people out of work stands at 431,908 and their MUR ranges from 4.5% to 20.3%. Women account for 42.5% of those unemployed in this age category and their unemployment rate was 18.9%.

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