The latest labor market figures show that NI payroll numbers are at an all-time high

The latest labor market figures show that NI payroll numbers are at an all-time high

According to the most recent labor market figures, the number of employees has increased for the eighth consecutive month, with an increase of 21,400 employees (2.9 percent) in the last three months alone.

In addition, the number of payrolled employees has remained above pre-pandemic levels for the second month in a row, according to figures released on Tuesday by the Northern Ireland Statistics and Research Agency (Nisra).

In July 2021, the number of employees receiving pay through HMRC PAYE in Northern Ireland was 762,600, a 1.1 percent increase over the previous month and a 3.1 percent increase over the previous year. This is also the highest figure ever recorded.

Nisra compiled the statistics using HMRC payroll data, which is regarded as the most up-to-date and best overall indicator of the labor market.

Employee numbers are now at their highest point in history, up 1.3 percent from March 2020 pre-Covid.

Even though the number of redundancies confirmed in July was the highest so far in 2021, with 250 redundancies confirmed last month, the total for the year is 5,750.

At 3,180, this year’s total was 81% higher than the previous year. 250 redundancies were confirmed in July, bringing the annual total to 5,750. This year’s total was 81% higher than the previous year (3,180).

Meanwhile, the number of proposed collective redundancies has risen from 150 in May to 490 in June and 850 in July, bringing the total number of proposed collective redundancies in the last year to 6,090.

The unemployment rate has risen in the last quarter and year. The Labour Force Survey estimated the rate to be 3.8 percent between April and June 2021, an increase of 0.4 percent and 1.2 percent year on year.

In other news, the Coronavirus Job Retention Scheme supported approximately 44,000 jobs at the end of June, representing a 6% take-up rate.

This is a continuation of the downward trend that began with approximately 117,000 supported jobs in January.

For the fifth month in a row, the number of claimants has decreased. The seasonally adjusted number of people on the claimant count in July was 50,000 (5.1 percent of the workforce), down 800 (1.5 percent) from the previous month’s revised figure.

The July claimant count was 22% lower than the previous peak in May 2020, but 64% higher than the pre-pandemic count in March 2020.

Northern Ireland had the lowest unemployment rate, the lowest employment rate, and the highest economic inactivity rate of any UK region.

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