On November 3rd, 2021, the Central Statistics Office (CSO) published the Monthly Unemployment (MU) figures for October, 2021.
135,200 people were unemployed in October, 2021, a drop of 18,400 over the year. The Monthly Unemployment Rate (MUR) was 5.2%, down 1.1 percentage points. Unemployment decreased for both men and women over the period, by 11,000 and 7,400 respectively. Women accounted for 46% of the unemployed in October 2020 and 47% in October 2021.
In October 2021, 35,900 people aged 15-24 were unemployed: 10,800 fewer young people than a year ago. Their MUR was 10.4% in October, 2021, 7 percentage points lower than October, 2020. Over the year unemployment decreased amongst young men by 23% to 18,400, and their unemployment rate was 10.3%. Unemployment amongst young women also decreased by 23% to 17,500, and their unemployment rate was 10.5%. In October 2021, women accounted for 49% of those unemployed in this age category, and 49% in October 2020.
For people aged 25-74, 99,300 people were unemployed, a decrease of 7,600 people over the year and their MUR decreased by 0.6pp to 4.4%. Over the year unemployment decreased for men by 9.1% to 53,600 and for women by 5% to 45,700. Women accounted for 46% of those unemployed in this age category and their Monthly Unemployment Rate (MUR) was at 4.3%. The MUR for men in this age category was 4.5%.
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 205,246 and the unemployment rate is 7.9%. In October 2020 these figures were much higher, at 490,349 and 20.3% respectively.
In October 2021, women accounted for 45% of the upper bound of people out of work, and their Monthly Unemployment Rate (MUR) was 7.6%.
For people aged 15-24 years, the upper bound of people out of work stands at 38,746 and their MUR moves from a lower bound of 9.1% to an upper bound of 11.1%. A year ago these figures were 129,170 and 15.4% to 47.7% respectively.
In October 2021, women accounted for 47% of those unemployed in this age category and their unemployment rate was 10.8%.
While for the older age group, people aged 25-74 years, the upper bound of people out of work stands at 166,500 and their MUR ranged from 4.2% to 7.4%. In October 2020 these figures were respectively 361,179 and 4.8% to 16.8%.
In October 2021, women accounted for 45% of those unemployed in this age category and their MUR was 7.1%.