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The ESRI has forecast that unemployment in Ireland will rise from 4.8% in the first quarter of the year to 18% in Q2 due to the loss of over 350,000 jobs as a result of economic circumstances impact brought about by the Covid-19 virus. Due to the uncertainty caused by the outbreak and as there is no clear sense when things will return to somewhere approaching normal, the ESRI said it is not possible to undertake traditional economic forecasts.
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