Northern Ireland’s labour market continued to break records into the summer months. Unemployment fell to a new low of 2.8% and employment hit a record high of 779k jobs in Q2. That follows 14 consecutive quarters of growth. Looking at the private sector specifically shows a winning streak that is even longer, extending to five years. But can it last? There are signs that the jobs machine is slowing. The number added in the latest quarter marked a three-and-a-half year low. Meanwhile, services, the largest sector of the economy, saw its rate of growth almost grind to a halt.
A report, which acts as a barometer for the local jobs market indicates that although job hiring is slowing slightly, the IT sector is showing no sign of a slump. Belfast remains a key location for global companies to invest and have access to a talented workforce.
The latest NIJobs.com Jobs Report with Ulster Bank indicates a robust local jobs market at the end of 2018, despite ongoing uncertainty around Brexit and the lack of a functioning local Executive and Assembly.
A report that looks at recruitment trends across Northern Ireland is urging local companies to improve their employment offering to attract and retain talent.
The latest NIJobs.com Jobs Report with Ulster Bank was published this week. It shows that the jobs market remains busy, driven by continued inward investment as well as recritment in other areas. Continue reading
- Number of jobs listed on NIJobs.com rose by 18% in the first quarter of 2018
- One quarter of employment categories posted their highest number of listings to date
- YoY Growth in job opportunities across NI- Antrim 35%, Derry 28%, Down 21%
- Skills shortages and staff turnover will continue to disrupt company growth
Official figures continue to point to a buoyant Northern Ireland labour market in the third quarter of 2017. Private sector jobs notched up a thirteenth consecutive quarterly rise and are at their highest level since records began in 1974. Public sector job losses have stabilised (at least for the time being) and are around 10% below their 2009 peak. Overall, Northern Ireland has almost 19,000 more jobs (+3%) than at the pre-recession peak. Significantly, there has been a pick-up in full-time employment growth in Q3 which had previously been lagging behind the surge in part-time employment.