Around 405,000 employees are currently having their wages supported by the State under the Temporary Wage Subsidy Scheme, according to the latest figures from the Revenue Commissioners.

This week's statistics indicate that over 552,200 employees have received at least one subsidy payment since the scheme was launched on 26 March.

247,300 received TWSS subsidies last week, but this weekly figure fluctuates depending on whether workers are paid on a weekly, fortnightly or monthly basis.

Over 62,800 employers have now registered with the Revenue for the TWSS, and over 56,900 have received subsidy payments.

However, the Revenue Commissioners estimate that 9,300 employers have withdrawn from the TWSS, which they believe accounts for 54,600 employees no longer covered by the scheme.

In total, 150,000 employees who were covered by TWSS at some stage are no longer having their wages  subsidised by the scheme.

In total, the State has spent €1.698 billion on TWSS subsidies to employers, inclusive of €145 million in income tax refunds.

The TWSS was established on 26 March with the intention of subsidising payroll costs for employers adversely affected by Covid-19, so that they could maintain an employment relationship with their workers, and make it easier for businesses to reboot economic activity when the crisis eases.

The Revenue figures - which exclude the public sector and workers receiving occupational pensions - clearly indicate the dramatic extent to which both workers' incomes and tax revenue have dropped since the Covid-19 crisis began.

In January, 1.9 million workers received total gross pay of €6.187bn, averaging €3,249 per worker per month.

However, Revenue's figures suggest 1.57 million workers (around 330,000 fewer) earned gross pay of just €4.387bn - with average monthly pay falling to €2,787. 

The State has also lost out significantly on tax.

The total income tax take in January from those 1.9 million workers was €1.077m - but by last month, that had fallen to €755m.

The €211m in USC paid in January fell to €150m last month, with Employee PRSI decreasing from €220m to €151m over the same period. 

The State revenue from Employer PRSI reduced from €595m to €389m.

However, the figures are even more stark for employees covered by the TWSS, who must earn less than €76,000 to qualify for a wage subsidy. 

In January, 530,000 such workers earned total gross pay of €1.503bn, averaging €2,837 per month. 

The income tax take from such workers collapsed from €191m in January, to a shortfall of -€23m in May. 

TWSS workers paid USC totalling €39m in January, but in May, the state took in just €1m from them. 

Employee PRSI contributions totalling €54m in January plummeted to just €7m in April, with Employer PRSI contributions dropping from €145m in January to €19m over the same period.