One in four could be out of work by June, Central Bank warns

Economic output could fall by as much as 15% if Covid-19 lockdown continues past the summer, quarterly bulletin says

2nd April, 2020
One in four could be out of work by June, Central Bank warns
If the lockdown persists past the summer, economic output could plunge by as much as 15 per cent, the bank said. Picture: Rollingnews.ie

A quarter of the workforce may be unemployed by the end of June, the Central Bank warns today.

If the lockdown to contain Covid-19 persists past the summer, economic output could plunge by as much as 15 per cent, the bank also said in its latest economic bulletin.

It expects unemployment to each 25 per cent by the end of the second quarter, before falling gradually to end the year at just over 14 per cent....

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