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Northern Ireland economy weakens, more become jobless | Northern Ireland economy weakens, more become jobless |
(about 2 hours later) | |
The Northern Ireland economy is continuing to weaken, according to official figures. | The Northern Ireland economy is continuing to weaken, according to official figures. |
The Indexes of Services and Production both showed falling output in the second quarter of 2012. | The Indexes of Services and Production both showed falling output in the second quarter of 2012. |
Services fell by 1% over the quarter while production, which mainly reflects manufacturing output, fell by 5%. | Services fell by 1% over the quarter while production, which mainly reflects manufacturing output, fell by 5%. |
Meanwhile, another 200 people joined the dole here last month, bringing the total number of unemployed 63,400. | Meanwhile, another 200 people joined the dole here last month, bringing the total number of unemployed 63,400. |
Between June and August this year 8.1% of the population were unemployed. | Between June and August this year 8.1% of the population were unemployed. |
Over the year, the number of people claiming the dole here has increased by 4.8%, while in the UK as a whole the figure has fallen by 1.4%. | Over the year, the number of people claiming the dole here has increased by 4.8%, while in the UK as a whole the figure has fallen by 1.4%. |
A large proportion of the unemployed are young people, with 21.1% of those between aged between 18 and 24 now unemployed, up 3.0% over the year. | A large proportion of the unemployed are young people, with 21.1% of those between aged between 18 and 24 now unemployed, up 3.0% over the year. |
Northern Ireland does not have its own quarterly GDP figures like those collected for the UK as a whole. | Northern Ireland does not have its own quarterly GDP figures like those collected for the UK as a whole. |
Instead the Indexes of Production and Services, and a third set of figures - the Index of Construction - are used to give an analysis of economic output. | Instead the Indexes of Production and Services, and a third set of figures - the Index of Construction - are used to give an analysis of economic output. |
The Index of Construction also showed falling output in the second quarter. | The Index of Construction also showed falling output in the second quarter. |
The total volume of construction output decreased by 8.2% over the quarter and was 2.3% lower compared to the same time in 2011. | The total volume of construction output decreased by 8.2% over the quarter and was 2.3% lower compared to the same time in 2011. |
This decrease follows three consecutive quarters of growth which had lead to glimmers of hope in the beleaguered sector. | This decrease follows three consecutive quarters of growth which had lead to glimmers of hope in the beleaguered sector. |
Manufacturing has been one of the stronger parts of the Northern Ireland economy in recent years. | Manufacturing has been one of the stronger parts of the Northern Ireland economy in recent years. |
Despite the quarterly slip the Index of Production still shows growth of 1.6% compared to this time last year. | Despite the quarterly slip the Index of Production still shows growth of 1.6% compared to this time last year. |
For services the picture is worse, with the year-on-year the Index of Services showing output is down by 3%. | For services the picture is worse, with the year-on-year the Index of Services showing output is down by 3%. |
'Employment Scheme' | |
The Enterprise Minister Arlene Foster said that despite the poor performance this quarter, the NI production sector still continued to perform better than the UK over the year. | The Enterprise Minister Arlene Foster said that despite the poor performance this quarter, the NI production sector still continued to perform better than the UK over the year. |
"Northern Ireland is a small open economy and we cannot expect to remain unaffected by the continued uncertainty in markets around the world," she said. | "Northern Ireland is a small open economy and we cannot expect to remain unaffected by the continued uncertainty in markets around the world," she said. |
"In the face of these challenges, it is important that local businesses continue to look for export opportunities in the wider global economy." | "In the face of these challenges, it is important that local businesses continue to look for export opportunities in the wider global economy." |
The CBI in Northern Ireland said the latest figures were disappointing and that it should be made easier for business to create jobs. | |
In a statement it said lowering corporation tax would be way to help. | |
"Furthermore, we need to tackle the burden of employment regulation - and we would encourage businesses to support the Youth Employment Scheme, which provides support for any business who hires a young person between the ages of 18-24," it said. |