The Ulster Unionist Party’s Economy Spokesperson John Stewart MLA has said that today’s unemployment figures highlight the need for the NI Executive to have a comprehensive economic recovery plan in place.

John Stewart MLA said:

“The scale and growth rate of local unemployment should act as a warning to local politicians that action is needed now to try and minimise the long term damage to both people’s lives and our economy from the worst effects of the Covid-19 pandemic.   

“The Northern Ireland Executive needs to start work immediately on a comprehensive joined up recovery plan. The Department of the Economy’s Economic panel is a start but it needs to work in conjunction with the long promised and much delayed Fiscal council.

“Today’s unemployment figures are proof, if any was ever really needed, that Covid-19 is having a devastating effect, not just on human health, but also on the economy and jobs.

“According to figures from the NI Statistics and Research Agency (NISRA), the Northern Ireland claimant count increased from 29,700 in March to 65,200 in May. This massive increase takes the claimant count above its most recent peak in February 2013 when it hit 64,800, and NISRA estimates that the claimant count unemployment rate is now 7%.

“Given that many thousands of local workers are currently availing of the UK Government’s furlough scheme, it is inevitable that these figures will increase significantly once people try to return to work, and some firms are hit with the harsh reality of having to make redundancies in this new economic climate. Regrettably we will see more people joining the ranks of the unemployed. Action is needed now to minimise the damage.”