Labor market statistics were released today by the Northern Ireland Agency for Statistics and Research.
Labor market statistics published
For the tenth month in a row, employees’ salaries are higher than before COVID-19
- The number of employees receiving a salary through HMRC PAYE at NI in March 2022 was 775,000, an increase of 0.1% for the month and 4.8% for the year. This is the highest figure for all time and the tenth consecutive month when the number of employees exceeds the level before COVID-19.
- Revenue from HMRC PAYE showed that the average monthly salary of NI employees was £ 1,928 in March 2022, up 14 pounds (0.7%) per month and 125 pounds (6.9%) per year.
The lowest number of NI applicants (experimental series) since March 2020
- In March 2022, the seasonally adjusted number of applicants was 37,900 (4.0% of the workforce), which is 1,000 (2.6%) less than the revised figure for the previous month. The number of applicants in March is 41% less than the recent peak in May 2020, and 27% higher than before the pandemic in March 2020.
The trend of low number of confirmed layoffs continues
- The number of reductions proposed in March was small, and in accordance with the policy of control over the disclosure of statistical information can not be disclosed (preventing the potential identification of individual enterprises).
- NISRA has received confirmation that in March 2022 there were 30 layoffs. The year 1850 was 68% less than the previous year. For the year from April 2021 to March 2022, 2130 reductions were proposed, which is 79% less than in the previous 12 months.
The title of the Labor Force Survey
- The last seasonal unemployment rate at the Research Institute (the share of economically active people aged 16 and over who were unemployed) for December-February 2022 is estimated from a labor force survey of 2.5%. The unemployment rate fell by 0.6 percentage points (AP) for the quarter and by 1.0 percentage points for the year. Both quarterly and annual changes were statistically significant and are likely to reflect real changes.
- The employment rate (the share of employees aged 16 to 64) increased by 1.1 percentage points over the quarter, by 1.3 percentage points over the year, to 71.2%. Neither quarterly nor annual changes were statistically significant.
- The total number of hours worked per week at NI is estimated at 27.2 million, down 3.8% from the previous quarter and up 7.0% year-over-year.
- The level of economic inactivity (the share of people aged 16 to 64 who do not work and are not looking for or not available for work) decreased by 0.7 percentage points during the quarter and by 0.5 percentage points during the year. , to 27.0%. Neither quarterly nor annual changes were statistically significant.
- Employee performance remains positive when the number of employees and wages is above the pre-pandemic level, while the last unemployment rate means a return to the pre-pandemic level. The level of employment (which includes the self-employed) and the total number of hours worked have not yet returned to pre-pandemic levels, and the number of applicants and economic inactivity remain higher.
- The latest HMRC wage data was the highest in March and 3.0% higher than that recorded in March 2020 before COVID-19. The age group 25-34, which is the only one, has returned to the pandemic figure, which has 0.7% fewer employees than in March 2020.
- In the first three months of 2022, the total number of confirmed layoffs (90) was the lowest in three months. With the exception of February 2022, where there were 210 proposed reductions (still well below the average number of proposed reductions in the second half of 2020, which is 1,050 per month), the proposed redundancies were low or not proposed in each of the months since September 2021 and March 2022.
- The Labor Force Survey shows a statistically significant decline in the unemployment rate for the quarter and year to December-February 2022 to 2.5% (0.6 and 1.0 percent, respectively). The latest unemployment rate is the same as in the pre-pandemic period (December-February 2020).
- In addition, compared to the pre-pandemic level, the total number of hours worked in December-February 2022 was 5.2% lower, while the employment rate was lower by 1.3%. Similarly, the level of economic inactivity remains at 1.3 percentage points. above the position before the pandemic.