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Key Findings from the Labour Market Report

Posted 16 Sep, 2020

Key Findings from the Labour Market Report were published on Tuesday 15th September 2020.

- The unemployment rate for Northern Ireland is the lowest across the UK at 2.9% and is unchanged over the year. It is below European Union rate (6.7%) and the RoI rate (5.3%).

- Total weekly hours worked down by 4.8 million hours, or 16% from May-July 2019 which is the largest annual decrease on record and lower than the total weekly hours worked in 2009. This reflects the introduction of the furlough scheme.

The real concerns in the figures are on redundancies.

Confirmed Redundancies

- 820 redundancies were confirmed in August, the second highest monthly total in the past five years

- 700 were proposed in August 2020 and a further 880 redundancies have been proposed in the current month up to 14th September 2020

- From 1 September 2019 to 31 August 2020, 9,160 redundancies were proposed, the highest number of proposed redundancies on record.

Proposed Redundancies

- 700 proposed redundancies in August (below the record highs of 2,470 in June and 1,940 in July)

- more than twice the number recorded in August 2019 (330)

- a further 880 redundancies proposed between 1st and 14th September.

- 6,800 proposed redundancies in six months since March which is 3 times higher than the previous six months

As at 31st August, there were almost 250,000 people on furlough with tourism related services accounting for 20% of the NI total.

NITA continue to work with DCMS and HMT with regard to continuation of employment support from November.

Full report here