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Listen: ESRI Expects Unemployment To Soar As A Result Of Covid 19.

: 03/26/2020 - 15:48

Unemployment could soar and the economy is likely to shrink because of the coronavirus crisis, according to a new report.

The ESRI is warning the unemployment rate could increase drastically to 18 percent by the middle of the year.

And it says the economy could contract by as much as 7.1 percent by the end of 2020.

Kieran McQuinn from the ESRI says the labour market will have one of its biggest shocks in living memory.

newstalk1543214.mp3, by Ciara Plunkett

 

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