15/03/2012

'Disguised' Unemployment Figures Slammed

Following news that unemployment figures in Northern Ireland are slightly down on last quarter Sinn Fein's Conor Murphy has slammed the report claiming that no amount of 'massaging' will hide the true figures.

Yesterday a Labour Force Survey reported that the unemployment rate in Northern Ireland had fallen to 6.5% - a fall of 0.4% - from the previous quarter.

Mr Murphy, the Economy Spokesperson for Sinn Fein, has said however that no amount of massaging of figures will disguise the real numbers of unemployed.

He said: "The facts are that the number of employee jobs available fell by over 3000 since December 2011, claimaints increased by 200 and the percentage of long term unemployed increased. While it is encouraging that certain areas of manufacturing continues to grow the retail sector and indigenous SME's continue to experience closures and job losses."

"The Economic Strategy, launched yesterday aims to promote over 25,000 new jobs and I welcome this initiative. I believe however, that a focus of any investment that accompanies this job promotion should be specifically targeted at the indigenous SME sector in areas of high deprivation and unemployment. While the £16million equity fund for Co-investment Fund is a welcome development, what is required is for pressure to be brought to bear on the Banks to relax their restrictive lending conditions so that SME's can plan for future investment and expansion with confidence."

(LB/GK)

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