The COVID-19 adjusted unemployment rate for July 2021

The Monthly Unemployment Estimates results for July 2021 published show that the COVID-19 crisis has continued to have a significant impact on the labour market in Ireland.

While the standard measure of Monthly Unemployment was 6.5% in July 2021, the COVID-19 Adjusted Measure of Unemployment could indicate a rate as high as 13.5% if all claimants of the Pandemic Unemployment Payment (PUP) were classified as unemployed. This alternative measure is down from the revised rate of 16.2% in June 2021 and down from 19.1% in July 2020.

Breaking the results down by broad age group, the traditional Monthly Unemployment Rate for those aged 15 to 24 years was 17.3% in July 2021, while it was 4.9% for those aged 25 to 74 years.

If all claimants of the PUP were classified as unemployed, the upper bound, or COVID-19 Adjusted Measure of Unemployment indicates a rate of 13.5% for all persons, with a rate of 13.2% for males and 13.7% for females in July 2021. Breaking the results down by broad age group, the COVID-19 Adjusted Measure of Unemployment is 28.6% for those aged 15 to 24 years and 11.0% for those aged 25 to 74 years

Those benefitting from the Temporary Wage Subsidy Scheme (TWSS) and later the Employment Wage Subsidy Scheme (EWSS), having a connection to their employer, would continue to be classified as Employed using the internationally agreed criteria for reporting on official labour market status.

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