The number of people receiving unemployment benefit is set to rise by around 300,000 for the month of March as a direct result of the Covid-19 shutdown, according to a report from Goodbody Stockbrokers.
The stockbrokers said the latest Live Register figures, due out today, will show that 482,000 people are now claiming unemplyment payments - by far the largest ever monthly increase.
Goodbody's has estimated that the unemployment rate may have risen to 17% in March, up from 4.8% in February. And this is before the impact of last week's restrictions, which closed further swathes of economic activity - including construction sites - and will cost yet more jobs.