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18/04/2007
Northern Ireland's Unemployment Rate Remains Low
Northern Ireland's unemployment rate remains below the UK average with output levels for manufacturing and services showing a larger annual increase than the UK.
The Northern Ireland seasonally adjusted unemployment rate was 4.6% for the period December - February 2007. This is slightly higher than the rates of 4.2% and 4.1%, which were recorded in the previous quarter and previous year respectively. However, the latest Northern Ireland rate remains below the UK average (5.5%) and is also considerably lower than the EU27 rate (7.5%) for January 2007.
Seasonally adjusted figures for the same period estimate that there were 767,000 people in employment in Northern Ireland. The new figures represent an estimated increase of 0.2% in employment levels over the quarter and an increase of 0.6% over the year.
The number of people claiming unemployment related benefits stands at 25,700. This shows a decrease of 100 from the previous month and is down 2,700 over the year.
The latest seasonally adjusted working age economic inactivity rate in Northern Ireland (26.9%) has fallen slightly from the figure recorded for the previous quarter (27.5%). However, the Northern Ireland rate remains significantly higher than the UK average (21.2%) and is the highest among the UK regions.
Commenting on the figures, Enterprise Minister, Maria Eagle MP said: "It is good to see the latest rise in Northern Ireland employment levels and the continuing low levels of unemployment in the region. The Northern Ireland unemployment rate has been maintained at a level below the UK average for some 18 months now and this provides an indication of the strengthening labour market here."
Provisional seasonally adjusted results from the experimental Index of Services (IOS) for the fourth quarter of 2006, estimate that the Northern Ireland service sector has increased by 4.0% in real terms since the same period last year. This compares with an estimated increase of 3.5% for the UK as a whole over the same period.
The Distribution - Wholesale & Retail sector (1.1%), Business Services and Finance (11.3%) and Transport, Storage and Communication (8.3%) sectors in Northern Ireland all increased over the fourth quarter of 2006 compared to the same quarter one year earlier. Other Services (-5.0%) and the Hotels & Restaurants (-8.0%) sectors both decreased over the same period.
Results from the Index of Production (IOP) for the fourth quarter of 2006 show that Northern Ireland manufacturing output, the main component of the production index, remained steady over the quarter and increased by 5.2% over the year. The equivalent UK figures showed an increase of 0.1% over the quarter and 2.7% over the year.
Maria Eagle continued: "Positive results recorded for the service sector indicates that the Northern Ireland economy is continuing to perform well. It is also encouraging to note that the increase in the service sector output over the year is higher than that recorded for the UK.
"Manufacturing output has also increased at a faster rate than the UK over the year. This is to be welcomed and shows the significant potential Northern Ireland has to build a thriving private sector led economy.
"As we hand back to the new assembly and local ministers, it is pleasing to note there is a sound basis for economic growth. This is a time of tremendous opportunity for Northern Ireland and I wish the new ministers every success with the tasks ahead."
(CD)
The Northern Ireland seasonally adjusted unemployment rate was 4.6% for the period December - February 2007. This is slightly higher than the rates of 4.2% and 4.1%, which were recorded in the previous quarter and previous year respectively. However, the latest Northern Ireland rate remains below the UK average (5.5%) and is also considerably lower than the EU27 rate (7.5%) for January 2007.
Seasonally adjusted figures for the same period estimate that there were 767,000 people in employment in Northern Ireland. The new figures represent an estimated increase of 0.2% in employment levels over the quarter and an increase of 0.6% over the year.
The number of people claiming unemployment related benefits stands at 25,700. This shows a decrease of 100 from the previous month and is down 2,700 over the year.
The latest seasonally adjusted working age economic inactivity rate in Northern Ireland (26.9%) has fallen slightly from the figure recorded for the previous quarter (27.5%). However, the Northern Ireland rate remains significantly higher than the UK average (21.2%) and is the highest among the UK regions.
Commenting on the figures, Enterprise Minister, Maria Eagle MP said: "It is good to see the latest rise in Northern Ireland employment levels and the continuing low levels of unemployment in the region. The Northern Ireland unemployment rate has been maintained at a level below the UK average for some 18 months now and this provides an indication of the strengthening labour market here."
Provisional seasonally adjusted results from the experimental Index of Services (IOS) for the fourth quarter of 2006, estimate that the Northern Ireland service sector has increased by 4.0% in real terms since the same period last year. This compares with an estimated increase of 3.5% for the UK as a whole over the same period.
The Distribution - Wholesale & Retail sector (1.1%), Business Services and Finance (11.3%) and Transport, Storage and Communication (8.3%) sectors in Northern Ireland all increased over the fourth quarter of 2006 compared to the same quarter one year earlier. Other Services (-5.0%) and the Hotels & Restaurants (-8.0%) sectors both decreased over the same period.
Results from the Index of Production (IOP) for the fourth quarter of 2006 show that Northern Ireland manufacturing output, the main component of the production index, remained steady over the quarter and increased by 5.2% over the year. The equivalent UK figures showed an increase of 0.1% over the quarter and 2.7% over the year.
Maria Eagle continued: "Positive results recorded for the service sector indicates that the Northern Ireland economy is continuing to perform well. It is also encouraging to note that the increase in the service sector output over the year is higher than that recorded for the UK.
"Manufacturing output has also increased at a faster rate than the UK over the year. This is to be welcomed and shows the significant potential Northern Ireland has to build a thriving private sector led economy.
"As we hand back to the new assembly and local ministers, it is pleasing to note there is a sound basis for economic growth. This is a time of tremendous opportunity for Northern Ireland and I wish the new ministers every success with the tasks ahead."
(CD)
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