Northern Ireland’s unemployment rate drops to record-breaking low
There has been an 2.3% increase over the year in the number of employees on company payrolls. (Alamy/PA)
The unemployment rate in Northern Ireland has now sunk to a record low of 1.9%, a report said on Tuesday.
The Labour Force Survey said the joblessness rate in April-June had fallen 0.2 percentage points on the level in the same period in 2023. And it had fallen 0.7 percentage points over the quarter.
The NI Statistics & Research Agency (NISRA) said there had been an 2.3% increase over the year in the number of employees on company payrolls.
The median monthly pay for those employees was £2,249 in July 2024, a decrease of £82 (3.5%) over the month and an increase of £164 (7.9%) over the year. However there has also been an increase in redundancies.
NISRA, acting on behalf of the Department for the Economy, received confirmation that 40 redundancies occurred in July 2024.
Over the year spanning from August 2023 to July 2024, 2,550 redundancies were confirmed, which was almost double the figure for the previous year (1,340).
There were 2,820 redundancies proposed in the twelve months to July 2024, which was around three quarters of the figure for the previous year (3,940).
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