Commentary by Elizabeth Colvin, associate in the employment team at DWF in Belfast, on the latest NI Labour Market figures.
“The latest labour market figures from Northern Ireland show continued resilience against a difficult economic climate. The figures show that over the year both payrolled employee numbers and earnings have increased. Further, all the Labour Force Survey headline measures have improved over the year, with unemployment and economic inactivity rates both decreasing and the employment rate increasing.
The number of employees receiving pay through HMRC PAYE in Northern Ireland in June 2024 was 808,000, an increase of 0.4% over the month and an increase of 2.4% over the year. Earnings from HMRC PAYE indicated that Northern Ireland employees had a median monthly pay of £2,329 in June 2024, an increase of £83 over the month and an increase of £235 over the year. The unemployment rate for the period March to May 2024 was estimated from the Labour Force Survey at 2%. This was a decrease of 0.2% over the quarter and a decrease of 0.3% over the year. The proportion of people in work decreased by 0.6% over the quarter and increased by 0.3% over the year to 71.1%.
With the much anticipated consultation published on the “Good Jobs” Employment Rights Bill we can expect further change in the Northern Ireland employment market. The consultation covers terms of employment, pay and benefits, voice and representation and work-life balance and runs until 30 September 2024. The appetite for change is certainly there, however we will have to wait and see what the outcome is of the extensive consultation. “
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