The Covid-19 adjusted unemployment rate dipped to 20.4% in December, down from 21.0% in November, according to the latest figures from the Central Statistic Office (CSO).
The main unemployment rate fell to 7.2% in December on a seasonally-adjusted basis, down from 7.3% in November, but up from 4.7% twelve months ago.
Job site Indeed say with a Brexit agreement now in place and the UK’s migration policy pivoting, Ireland may see more interest from Europeans who would have previously looked to the UK. This could be good news for sectors that traditionally face talent shortages such as tech and healthcare.
Speaking this week, economist at job site Indeed, Jack Kennedy said, "While the year ahead may pose some new challenges as the longer term impacts of the pandemic come to light, there is good reason to be optimistic. There’s every chance that once the vaccine rollout is widespread, sectors like hospitality could make a roaring comeback as deferred spending comes back on stream. This could greatly help limit the rise in unemployment as these sectors are labour-intensive, so a rebound in activity should translate to robust hiring."
He added, "As the fog begins to clear over the coming months we should start to see employers across the board become more confident about their forecasts, which will allow them to reinstate paused hiring or expansion plans."