Up to 100,000 people will permanently lose their jobs as a result of the pandemic, the Central Bank has warned. In its latest quarterly bulletin the Central Bank said it expected unemployment to remain elevated even after restrictions have been eased. The Central Bank said it expected unemployment to remain elevated at 8 per cent next year, and that it would be 2023 or 2024 before the labour market fully recovers from the pandemic. Brexit frictionsOn the downside, trade frictions from Brexit would continue to affect growth and household consumption, the Central Bank said, adding that both Brexit and the pandemic added a high degree of uncertainty to its forecasts. Ultimately, more favourable growth dynamics in coming years should support a decline in the public debt ratio.”

Source: The Irish Times April 01, 2021 03:26 UTC