Business

Northern Ireland jobs market remains strong despite recession

Figures show the employment rate increased in the September to November quarter
Figures show the employment rate increased in the September to November quarter Figures show the employment rate increased in the September to November quarter

The jobs market in Northern Ireland remains reasonably strong with payrolls still rising in December despite the economy entering recession in the third quarter of last year.

Latest figures show the employment rate increased in the September to November quarter despite a fourth consecutive monthly increase in people claiming unemployment benefits.

The Northern Ireland Statistics and Research Agency (Nisra) said the employment rate increased by 1.4 percentage points over the quarter while the proportion of people who were not working and not seeking or available to work, fell by 1.2 percentage points.

Annually, the employment rate rose by 3.3 percentage points.

The news comes after a report found that Northern Ireland's productivity gap with the UK has widened in recent years.

In a new briefing paper approaching the 25th anniversary of the Good Friday Agreement, Ulster University’s Economic Policy Centre (UUEPC) analysed labour productivity rates since 1998.

Labour productivity is calculated by dividing the total output within the economy (GVA) by total employment. GVA (gross value added) is the total income generated by an economy minus the cost of all inputs and raw materials that are directly attributable to production.

The paper found that while the economy and productivity has improved in absolute terms since 1998, in relative terms, the gap with the UK as a whole is growing.