Unemployment rises to 7.8% in January as restrictions bite

Covid-adjusted unemployment in the State rose to 7.8 per cent last month as restrictions to curb the spread of coronavirus continued to impact consumer-facing businesses.

Unemployment, which had been falling for much of last year, has now risen for two successive months.

However, it is expected to resume falling again with the lifting of restrictions and a pick-up in consumer spending.

The Central Bank is predicting unemployment will fall to 5.3 per cent next year and to 4.9 per cent in 2024, a level that is consistent with full employment in the Irish economy.

Social housing stock rises by less than 10,000 in four years

---

Irish economy set to generate 167,000 jobs over next two years

---

Time for reality check on State’s capacity to build social housing

---

Ireland’s debt equates to €47,000 for every man, woman and child

---

Central Statistics Office (CSO) figures, published on Wednesday, indicate the State's jobless rate rose to 7.8 per cent in January, up from 7.4 per cent in December.

The agency estimated there may have been as many as 202,027 people either out of work or in receipt of the Government’s pandemic unemployment payment (PUP) last month.

The standard measure of unemployment, which does not include PUP recipients, was put at 5.3 per cent, up from 5.2 per cent the previous month.

Following the reintroduction of restrictions on December 7th, the Government reopened the PUP scheme, which had been closed to new entrants.

The rise in PUP registrations was the main driver of the increased unemployment rate in December and January. Restrictions were lifted again on January 22nd.