THE NUMBER of people out of work in Northern Ireland soared to 64,000 in the three months to July as unemployment across the UK jumped in the same period to a two-year high of 2.5 million.
Latest government statistics show a major increase in the number of young people out of work across the UK has been one of the most significant factors in the vault in jobless figures over the summer. In the UK as a whole the number of jobless 18- to 24-year-olds increased by 77,000 to a high of 973,000.
In Northern Ireland the unemployment rate for May to July jumped to 7.4 per cent but it remained below the overall jobless rate in the UK which settled at 7.9 per cent.
The North’s unemployment rate for young people is estimated to have risen to 18.3 per cent over the year, more than double the North’s unemployment rate.
The latest official labour market research shows that while there has also been a rise in the number of people claiming jobless benefits in the North it is relatively low compared to the scenario in other parts of the UK.
Dr Esmond Birnie, PwC’s chief economist in the North, says although the number of people unemployed and claiming benefits has risen locally the North has been cushioned by “some residual public spending working through the system”. Dr Birnie warned that “the next year will see greater pressure on employment in both the public and private sectors.”
