Irish Sovereign Green Bonds Update
Labour market data shows stark Covid-19 impact; 2021 has
seen a reversal in unemployment rate
35
True unemployment rate is uncertain:
Covid-19 adjusted rate 24.2%* in March
10% fall in actual hours worked per week in
2020; MDD fall smaller due to productivity mix
2.5
30
50
25
20
20
15
10
5
0
.
14.7
00
Millions
2
•
•
1.5
1
•
5.2
•
0.5
Those "Away from Work" increased
on average by 175k in 2020 -
impacted heavily by Covid
0
2018
2019
2020
2005
2006
2007
2008
2009
2010
2011
2012
2013
Unemployment
2014
2015
2016
2017
2018
2019
...Covid-19 Adjusted Unemployment
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
Source: CSO
2020
2021
I Away from work' (employed but not working)
Unemployment
Employment (those at work)
* The CSO have estimated this as the upper bound of the unemployment rate. The CSO have urged
caution around labour market data given the likelihood of revisions and the unique nature of
employment status for some people in the pandemic.
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