NI public in work reaches record high following end of furlough

NI public in work reaches record high following end of furlough

In October, the number of employees in Northern Ireland receiving pay under HMRC Pay As You Earn reached a new high.

The latest labor market statistics tend to imply that the UK Government’s vacation scheme, which concluded on September 30, was a relative success, with an increase of 3,000 employees to a record high of 768,200.

According to the numbers, this represents a 0.5 percent increase over the previous month and a 4.4 percent increase over the previous year, with about 15,000 more individuals on the payroll than when the epidemic began in March 2020.

According to the figures, 200 redundancies happened in October 2021, with 240 suggested redundancies occurring during the three-month period from August to October.

According to the numbers, 3,650 redundancies were recommended in the year from November 1, 2020 to October 31, 2021, which is 62 percent less than the previous year.

According to October figures, the seasonally adjusted number of individuals on the claimant count was 47,000, down 300 from the corrected total from the previous month.

The claimant count in October is 26% lower than the recent high in May 2020, but 54% higher than the pre-pandemic count in March 2020.

The Labour Force Survey estimates the latest NI seasonally adjusted unemployment rate to be 4.0 percent for the period July-September 2021.

This is a 0.2 percent increase over the previous quarter and a 0.6 percent increase over the previous year. The quarterly and annual changes, however, were not statistically significant.

Over the quarter and year, the proportion of persons aged 16 to 64 in labor fell by 0.9 percent to 70.2 percent.

The economic inactivity rate, which measures the percentage of adults aged 16 to 64 who are not working and are not looking for or available for employment, grew by 0.8 percent quarter over quarter and 0.5 percent year over year to 26.8%.

Meanwhile, HMRC PAYE earnings showed that NI employees earned a median monthly wage of £1,849 in October 2021, up £4 (0.2%) from the previous month and £75 (4.2%) from the previous year.

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