Posted on Tuesday 10 September 2019 by John Mulgrew
Northern Ireland’s unemployment rate has reached a new record low as the level of employment here is also on the rise.
The latest official stats from the Northern Ireland Statistics and Research Agency (NISRA) show the unemployment rate fell to 2.8% between May and July this year.
That’s down from a previous low of 2.9% earlier this year. Meanwhile, the number of people aged between 16 and 64 increased by 0.7% during the quarter, reaching 72%.
And while Northern Ireland’s rate of economic inactivity remains significantly higher than in other regions, it decreased to 25.8% during the same period.
The overall NI unemployment rate sits below the UK average of 3.8%, with the Republic of Ireland on 4.6% and the EU average 6.3%.
“The total number of seasonally adjusted employee jobs in June 2019 was estimated at a record high of 778,890,” according to NISRA. “This was an increase of 1,380 jobs over the quarter and 14,020 jobs over the year.
“The number of confirmed redundancies, 1,777, in the most recent 12 months was lower than the previous 12 months (2,881). There were 121 confirmed redundancies notified to the department in August 2019, an increase from the total of 109 notified in July 2019.”
NISRA says that “businesses and households continue to report improvements in the labour market, with the unemployment rate estimated at the lowest on record, the employment rate at the second highest on record and employee jobs at a record high.
“Businesses reported via the Quarterly Employment Survey that employee jobs increased over the quarter and year to a record high of 778,890 jobs.
“This continues a period of quarter on quarter growth from December 2015. Although increases were seen in all broad industry sectors over the year, the services sector continues to account for the majority of growth.”