Northern Ireland unemployment rate hits lowest level in 10 years
Northern Ireland’s unemployment rate has hit its lowest level since 2007 at 3.9%.
But the Labour Force Survey for August to October also shows that Northern Ireland’s economic inactivity rate it at its highest level in nearly 10 years at 29%.
That rate means that nearly 30% of people aged 16 to 64 are either not in work or not looking for work due to reasons such as retirement, being in education or looking after family.
Ulster Bank chief economist Richard Ramsey said that the increase in economic inactivity suggested unemployment was falling “for the wrong reasons”.
The Labour Force Survey also showed the employment rate was down, falling 1.3 percentage points pver the year to 68.1%.
But the numbers of people actually claiming unemployment benefits had also fallen by 300 to 29,000 during November.
Belfast Telegraph Digital