Labour Market Report June 2024

The latest labour market statistics were published today (11th June 2024) by the Northern Ireland Statistics & Research Agency.

Payrolled employees unchanged over the month

The number of employees receiving pay through HMRC PAYE in NI in May 2024 was 801,800, unchanged over the month and a 1.6% increase over the year.
Earnings data from HMRC PAYE indicated that NI employees had a median monthly pay of £2,217 in May 2024, an increase of £24 (1.1%) over the month and £141 (6.8%) over the year.
The estimates from HMRC PAYE for the latest period, are based on early data and, therefore, are more likely to be subject to larger revisions.

In May 2024, the seasonally adjusted number of people on the claimant count was 37,400 (3.8% of the workforce), an increase of 3.8% from the previous month’s revised figure. The May 2024 claimant count remains 25.3% higher than the pre-pandemic count in March 2020.

NISRA, acting on behalf of the Department for the Economy, received confirmation that 180 redundancies occurred in May 2024. Over the year June 2023 to May 2024, 2,470 redundancies were confirmed, over double the figure for the previous year (1,200).
There were 650 proposed redundancies in May 2024, taking the annual total to 4,040, which was one and a half times the figure for the previous year (2,650).

The latest NI seasonally adjusted unemployment rate (the proportion of economically active people aged 16 and over who were unemployed) for the period February-April 2024 was estimated from the Labour Force Survey at 2.2%. This was a decrease of 0.1 percentage points (pps) over the quarter and a decrease of 0.1pps over the year.
The proportion of people aged 16 to 64 in work (the employment rate) was unchanged over the quarter and increased by 0.2pps over the year to 71.3%.
The total number of weekly hours worked in NI was estimated at 28.2 million hours, an increase of 2.7% on the previous quarter and a decrease of 1.1% on the equivalent period last year.
The economic inactivity rate (the proportion of people aged 16 to 64 who were not working and not seeking or available to work) was unchanged over the quarter and decreased by 0.1pps over the year to 27.0%.

The statistical bulletin and associated tables are available on the Labour Market Report - June 2024 page.

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