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Latest figures show an increase in employment levels with unemployment remaining low in Northern Ireland. Output from Northern Ireland's production and service sectors was relatively constant in the first quarter of 2008. Production output was up over the year. The Northern Ireland seasonally adjusted unemployment rate was 4.1% for the period March to May 2008. This represents a slight decrease from the rate of 4.3% recorded last quarter and is also marginally lower than the rate of 4.2% recorded in the same period one year ago. The latest Northern Ireland rate compares to the United Kingdom average rate of 5.2% and is considerably lower than the European Union rate of 6.7% for April 2008. Seasonally adjusted figures for the same period estimate that there were 798,000 people in employment in Northern Ireland - the highest figure on record. The new figures represent an estimated increase of 1.2% in employment levels over the quarter and a rise of 0.6% over the year. However the number of people claiming unemployment related benefits was 25,700 in June. This shows an increase of 600 from the previous month, and an increase of 1,500 over the year. The latest seasonally adjusted working age economic inactivity rate in Northern Ireland (26.1%) has fallen from the figure of 26.9% recorded for the previous quarter. The Northern Ireland rate is higher than the UK average rate (20.9%) and is the highest of the UK regions. Commenting on the figures, Economy Minister, Arlene Foster said: "These results show that overall the Northern Ireland labour market is performing positively, despite current economic conditions. "Employment is still increasing and the unemployment rate has remained below 5% for almost three years." Results from the Index of Production (IOP) for the first quarter of 2008, estimate that output from the production industries decreased by 0.2% in real terms over the quarter. Compared to the same quarter one year earlier, overall output has risen by 3.1%. Despite Northern Ireland output falling over the quarter, production over the last four quarters was somewhat higher (0.6%) than that of the previous four quarters. Northern Ireland and the United Kingdom both reported a slight decline in production output of 0.2% over the quarter. Over the year Northern Ireland's production (+3.1%) was higher than that recorded by the UK (+0.5%). Provisional seasonally adjusted results from the experimental Index of Services (IOS) for the first quarter of 2008, estimate that the service sector has increased by 0.3% over the quarter but decreased by an estimated 0.1% compared to the same quarter one year earlier. The increase in Northern Ireland services over the last four quarters (1.5%) is lower than that for the UK as a whole (3.5%). Over the quarter, the largest contribution to the rise in the Index was driven by the following sub sectors: Transport, Storage & Communication (3.2%),Distribution - Wholesale & Retail (0.6%) and Hotels & Restaurants (2.1%). Over the same period the Other Services sector (-3.4%) reported a decrease, while Business Services & Finance remained constant. Reflecting on the Index of Production and Index of Services, Mrs Foster said: "There is some evidence of increasing pressure in the production sector reflecting the difficult trading conditions we face."Growth has also been slow in the service sector. This is not unexpected, given consumer concerns regarding economic uncertainty. "However, as with manufacturing, this should not alter our fundamental strategy - to be more innovative, more export oriented and to improve our productivity. There are many competitive Northern Ireland businesses that are continuing to find and exploit such opportunities. This type of strategy can help promote a sound economic future." |
