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Latest labour market and economy figures released
Figures released today for the period March - May 2010 recorded a rise in the Northern Ireland unemployment rate to 7.0%.
More recent figures for June 2010 showed an increase of 600 over the month in the number of unemployment benefit claimants.
Output from both the Northern Ireland Services (+1.2%) and Production sectors (+1.5%) rose during the first quarter of 2010.
Commenting on the figures, Enterprise Minister, Arlene Foster said: “It is encouraging to note the increased output in the Northern Ireland Service sector during the first quarter of 2010. This is the second consecutive quarterly increase in the series and reflected the improved performance of the Business Services and Finance sector in particular.
“The Northern Ireland Production sector also showed an increase in output of 1.5% in the first quarter of 2010. This represented the first increase in the revised series for almost two years and compared to an increase of 1.0% in UK output during the same period.
“However, more recent figures for the Northern Ireland labour market showed a further rise in unemployment levels. Figures for June 2010 record a rise of 600 over the month in the number of people claiming unemployment benefits in Northern Ireland. This is disappointing news, given that claimant levels had remained relatively static during the previous five months. I am also aware that unemployment numbers continued to fall in the UK as a whole.
“It is clear that the Northern Ireland economy is likely to face further pressures. The public sector spending cuts, announced by the Chancellor in the Emergency Budget, will no doubt have an impact on the timing and strength of the recovery in Northern Ireland.
“It is therefore increasingly important to have an outward looking private sector that is flexible, responsive and export focused, which seeks growth opportunities across the global economy.
“This is a key focus for the Executive sub-committee on the economy. I chaired the second meeting of the sub-committee on Thursday, 8 July and good progress has been made in agreeing an overarching framework for an economic strategy. This will be a priority over the coming months. We aim to consult on this framework and the wider challenges facing the economy following further progress made by departments over the Summer.
“I have made clear that it is particularly important, even during a period of budget cuts, that we retain our focus on developing the conditions to promote private sector growth. This is the engine of recovery on which we must increasingly rely.”
Further information on the latest labour market figures is available in the Labour Market Statistical Press Release www.detini.gov.uk/deti-stats-index/stats-labour-market.htm)
Output from both the Northern Ireland Services (+1.2%) and Production sectors (+1.5%) rose during the first quarter of 2010.
Commenting on the figures, Enterprise Minister, Arlene Foster said: “It is encouraging to note the increased output in the Northern Ireland Service sector during the first quarter of 2010. This is the second consecutive quarterly increase in the series and reflected the improved performance of the Business Services and Finance sector in particular.
“The Northern Ireland Production sector also showed an increase in output of 1.5% in the first quarter of 2010. This represented the first increase in the revised series for almost two years and compared to an increase of 1.0% in UK output during the same period.
“However, more recent figures for the Northern Ireland labour market showed a further rise in unemployment levels. Figures for June 2010 record a rise of 600 over the month in the number of people claiming unemployment benefits in Northern Ireland. This is disappointing news, given that claimant levels had remained relatively static during the previous five months. I am also aware that unemployment numbers continued to fall in the UK as a whole.
“It is clear that the Northern Ireland economy is likely to face further pressures. The public sector spending cuts, announced by the Chancellor in the Emergency Budget, will no doubt have an impact on the timing and strength of the recovery in Northern Ireland.
“It is therefore increasingly important to have an outward looking private sector that is flexible, responsive and export focused, which seeks growth opportunities across the global economy.
“This is a key focus for the Executive sub-committee on the economy. I chaired the second meeting of the sub-committee on Thursday, 8 July and good progress has been made in agreeing an overarching framework for an economic strategy. This will be a priority over the coming months. We aim to consult on this framework and the wider challenges facing the economy following further progress made by departments over the Summer.
“I have made clear that it is particularly important, even during a period of budget cuts, that we retain our focus on developing the conditions to promote private sector growth. This is the engine of recovery on which we must increasingly rely.”
Further information on the latest labour market figures is available in the Labour Market Statistical Press Release www.detini.gov.uk/deti-stats-index/stats-labour-market.htm)
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19/07/2010
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