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11/11/2013
Employment Rise Fastest Since 2007
Employment in Northern Ireland is rising at its fastest rate since August 2007, according to a new report released by Ulster Bank.
The increase has been seen over the last three months, the report said.
It showed that the private sector in Northern Ireland continues to strengthen, but at a slower rate than the UK average.
Economist Richard Ramsey said: "Rising employment was particularly evident in the latest survey with NI firms reporting the sharpest increase in staffing levels since August 2007. All sectors reported a marked pick-up in employment growth in October relative to September.
"Rising employment is one knock-on effect of the improving business conditions. A return in pricing power is another. Last month saw local firms raise the price of their goods and services at their fastest rate in over 5 years.
"For many firms this will help restore profit margins after years when passing on price rises to customers was simply not an option."
(IT/CD)
The increase has been seen over the last three months, the report said.
It showed that the private sector in Northern Ireland continues to strengthen, but at a slower rate than the UK average.
Economist Richard Ramsey said: "Rising employment was particularly evident in the latest survey with NI firms reporting the sharpest increase in staffing levels since August 2007. All sectors reported a marked pick-up in employment growth in October relative to September.
"Rising employment is one knock-on effect of the improving business conditions. A return in pricing power is another. Last month saw local firms raise the price of their goods and services at their fastest rate in over 5 years.
"For many firms this will help restore profit margins after years when passing on price rises to customers was simply not an option."
(IT/CD)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
