Government costs 'worst-case' job losses of 800,000 in Covid-19 fallout

The €3.7bn cost of the package of income and business supports the Government announced last week was estimated on the “worst-case” basis of 800,000 people having lost or on the verge of losing their jobs by late June, the Irish Examiner understands.

The estimate is much higher than the 500,000 many economists anticipated will be effectively unemployed or on Government income supports by the summer as the Covid-19 emergency takes its toll on jobs and the economy.