Advertisement
Central Bank expects 160,000 n...

National

Central Bank expects 160,000 new jobs to be created by 2023

RedFM Sport
RedFM Sport

10:09 6 Oct 2021


Share this article


The Central Bank is expecting 160,000 jobs to be created by 2023 as the economy recovers from the pandemic.

Domestic activity is due to reach pre-pandemic levels by the end of the year with growth of over 5% - excluding multinationals.

The unemployment rate is forecast to fall to around 7% in 2022 although some sectors will take longer to recover than others.

Mark Cassidy from the Central Bank says they expect a steady drop in the number of people out of work over the coming years.

"The average unemployment rate in 2023 for example we're forecasting at around 152,000, which is only around 30,000 more unemployed compared to the pre-pandemic situation.

"That equates to an unemployment rate of just under 6% at the end of that."


Share this article


Read more about

Economy

You might like