Ireland's Unemployment Rate Expected To Grow To An Average Of 9.3% This Year
The Central Bank is warning of an uncertain economic outlook in the short-term.
It says the recent resurgence in the pandemic will result in economic activity remaining weak in the first half of the year.
However, the Central Bank believes the recovery will start from July as more people become vaccinated against covid-19.
Its Director of Economics and Statistics, Mark Cassidy says this year will be very hard for many people though as thousands of people will be out of work:
"Well we think the unemployment rate will peak during this year, we think it could average around nine and a quarter percent. That equates to around 225,000 people, officially unemployed. But I would say that there are a lot more also in receipt of government support of Pandemic, Unemployment Payments, who are not included in that number."
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