NI employment figures on the rise

Employment in Northern Ireland has risen to a record high and the unemployment rate remains below the UK average, it has today been announced.

Figures for the period between April - June 2006, estimate that there were approximately 769,000 people in employment in Northern Ireland, the highest figure on record to date.

These new figures represent an estimated increase of 1.5% in employment levels over the quarter and an increase of 3.3% over the year.

The seasonally adjusted unemployment rate in the province was 4.2% for the period April - June 2006, which showed a decline from a rate of 4.4% for the previous quarter and has also decreased from a rate of 5.0% for the same period last year.

The latest rate is below the UK average of 5.5% and is also considerably lower than the EU25 rate of 8.2% for May 2006.

The increase in employment levels has led to a fall of 7,000 in the number of economically inactive people here during the last quarter, however, despite this fall the seasonally adjusted working age economic inactivity rate in Northern Ireland, 26.6%, remains significantly higher than the UK average of 21.0%, and is the highest among the UK regions.

During the last month, the number of people claiming unemployment related benefits decreased by 400.

Commenting on the figures, a spokesperson for the Department of Enterprise, Trade and Investment Minister said: "These figures highlight the continuing strong performance of the Northern Ireland labour market. Employment levels are at a record high and the unemployment rate continues on a downward trend. It remains below the UK average and is the second lowest rate recorded among the UK regions."

Results from the Northern Ireland Business Insurance Survey 2003-05, which were also released recently, show that in 2005, the average total cost per business of insurance premiums, including multiple premiums per business, was £11,064, a decrease of 5.8% from £11,744 in 2004 and £12,091 in 2003.

However, small businesses reported an increase of 2.7% in costs during 2004/05.

Commenting on the findings, a Departmental spokesperson said: "It is encouraging to see an overall reduction in the cost of business insurance to Northern Ireland firms, though small businesses reported a slight increase last year. Downward pressure on costs will enable Northern Ireland firms to be more competitive on a global scale and are to be welcomed."

(EF)