Economists Warn Unemployment C...

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Economists Warn Unemployment Could Rise To 18% By July

Niall Colbert
Niall Colbert

1:50 PM - 26 Mar 2020



Economists have warned that Ireland's unemployment rate could rise to 18%.

The ESRI says the coronavirus could see almost 1 in 5 people without a job by the end of June.

The institute believes "the ongoing COVID-19 pandemic is the greatest threat that the Irish economy has faced since the financial crisis."

It says the economy could shrink by as much as 7.1% by the end of the year.

The bleak outlook is based on if the Government’s restrictions stay in place for 12 weeks.

The ESRI also says this outlook may be too benign and they will revisit the scenarios as events unfold



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