Covid adjusted unemployment rate falls to 15.4% in August

The standard measure of monthly unemployment was 5.2%, up slightly from 5.1% in June. Picture: Eddie O'Hare

The Covid-19 adjusted unemployment rate fell in August to 15.4% according to new figures from the Central Statistics Office (CSO).

The standard measure of monthly unemployment was 5.2%, up slightly from 5.1% in June.

Persons in receipt of the Covid Pandemic Unemployment Payment (PUP) do not meet the internationally agreed criteria to be considered as unemployed. As a result, the CSO produces both a standard measure of unemployment and Covid-adjusted measures.

The data shows a drop of 2.2% in unemployment compared to July.

Speaking about the figures CSO statistician Catalina Gonzalez said: "The Covid-19 crisis has continued to have a significant impact on the labour market in Ireland in August 2020."

"While the standard measure of Monthly Unemployment is 5.2% in August 2020, the Covid-19 Adjusted Measure of Unemployment indicates a rate as high as 15.4% if all claimants of the PUP were classified as unemployed."

"If all claimants of the PUP were classified as unemployed, this Covid-19 Adjusted Measure of Unemployment indicates a rate of 14.8% for males and 16.1% for females. Breaking the results down by broad age group, the new Covid-19 Adjusted Measure of Unemployment indicates a rate of 37.8% for those aged 15 to 24 years and 12.6% for those aged 25 to 74 years."