Northern Ireland Labour Market Statistics

Labour Market Statistics

The labour market statistics were published today by the Northern Ireland Statistics & Research Agency.

Unemployment rate fell to the joint lowest on record

The latest NI seasonally adjusted unemployment rate for the period December-February 2019 was estimated from the Labour Force Survey at 3.0%. The unemployment rate decreased over the quarter by 0.5 percentage points (pps) and decreased by 0.4pps over the year. Neither the annual nor quarterly change were statistically significant, i.e. the recorded changes did not exceed the variability expected from a sample survey of this size.

The NI unemployment rate (3.0%) was below the UK rate (3.9%), the European Union (6.5%) and the Republic of Ireland (5.3%) rates for January 2019.

Over half (55.8%) of those unemployed in NI were long-term unemployed (i.e. unemployed for one year or more), compared to 26.2% in the UK.

Employment rate increased to the highest on record

The employment rate (71.2%) increased over the quarter by 1.4pps and over the year by 1.8pps to the highest on record. The change in the quarterly employment rate was statistically significant over the quarter i.e. the recorded change exceeded the variability expected from a sample survey of this size and is likely to reflect real change.

The economic inactivity rate (26.6%) decreased over the quarter by 1.0pps and over the year by 1.5pps to one of the lowest rates on record. Neither the annual nor quarterly change were statistically significant, i.e. the recorded changes did not exceed the variability expected from a sample survey of this size.

Confirmed redundancies increased over the year

The number of confirmed redundancies (2,357) in the most recent 12 months is 24% higher than in the previous 12 months. NISRA, acting on behalf of the Department for the Economy, received confirmation that 230 redundancies took place in March 2019.

Increase in workplace pension scheme membership over the year

Pensions results released on 12th April showed the proportion of employees who belonged to a workplace pension scheme in increased over the year to 74%. This is the sixth consecutive year of increases and follows pension reforms in 2012 (the introduction of Automatic Enrolment).

Commentary

The unemployment rate for December – February 2019 was estimated at 3.0%, the joint lowest on record, while the employment rate was estimated at 71.2%, the highest on record. Following a decrease of 1.5pps over the year, the inactivity rate, at 26.6%, is one of the lowest on record, and is similar to the relatively low levels seen in 2016. 

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