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Economic Overview

Full economic Overview - August 2014 (PDF 43 KB)

At a glance:

Unemployment

The unemployment rate for the period April - June 2014 was estimated at 6.7%.
Further Information on Unemployment Statistics

Employment

The number of persons in employment in the period April - June 2014 was estimated at 821,000.
Further Information on Employment Statistics

Economically Inactive

The NI economic inactivity rate at April - June 2014 for those aged 16-64 stood at 26.6%.
Labour Force Survey

Claimant Count

The seasonally adjusted claimant count decreased by 1,400 from last month’s revised total. It now stands at 52,700 (5.9% of the workforce) in July 2014.
Further Information on Claimant Count

Quarterly Employment Survey

The estimated seasonally adjusted employee jobs total in Northern Ireland at March 2014 was 711,210.
Further Information on the Quarterly Employment Survey

Composite Economic Index

The latest figures indicate that NI economic activity increased by 1.6% over the year to Q1 2014.
Further Information on the Northern Ireland Composite Economic Index

Index of Services

Provisional results from the Index of Services for the first quarter of 2014 showed that output in NI decreased by 1.1% in real terms over the quarter.
Further Information on the Index of Services

Index of Production

Provisional results from the seasonally adjusted Index of Production (IOP) for the first quarter of 2014 show that output levels increased by 0.8%.
Further Information on the Index of Production

Index of Construction

The total volume of construction output in Northern Ireland in the first quarter of 2014 increased by 1.9% compared to Q4 2013.
Further Information on the Index of Construction

Hours Worked

In the three months to May 2014, the average actual weekly hours worked in NI was 33.9 hours.
Labour Force Survey

Annual Survey of Hours and Earnings (ASHE)

Earnings results for April 2013, show that yearly growth in median gross weekly earnings for all employees (i.e. both full- and part-time) in NI was 1.7% (to £367).
Further Information on the Annual Survey of Hours and Earnings

Redundancies

Over the latest twelve month period to 31st July 2014 there were a total of 2,228 confirmed redundancies, a decrease of 30% from the previous year (3,194).
Further Information on Redundancies