Labour Market Stays Strong In Uncertain Times

Even though we are living in increasingly uncertain times, with tension and strife in many parts of the world, and President Donald Trump causing panic in the financial markets, and even to his supposed allies, as he threatens all and sundry with tariffs, the one area that is staying strong through all of this is the NI jobs market.

The first 3 months of the year has produced a rise in job listings of 7% compared to the same time in 2024. The listings are 44% above pre-pandemic levels, which is quite remarkable. Add to this the fact that nearly 80% of employment categories increased their hiring intentions from the previous quarter, as reported in the latest NIJobs jobs report.

There may be clouds on the horizon of course, as besides the global uncertainty facing businesses right now, there are also the rises in the National Minimum Wage and employers National Insurance contributions for them to contend with.

Unemployment Is At Historically Low Levels

Economist Richard Ramsey, one of the authors of this NI Jobs report, is quoted in an article on the Irish News website talking about the latest data. He said:

“The Northern Ireland economy began 2025 with reasonable economic momentum and a strong labour market. Unemployment remains at historic lows and employment has never been higher.

“But Donald Trump’s first 100 days triggered a surge in uncertainty as he seeks to upend the global order of the last 70 years. His tariff announcements, which amount to the biggest increase in tariffs in a century, have caused ructions on the financial markets. The local labour market, on the other hand, is in the calm before the storm.

“The chopping and changing in tariffs make it extremely difficult for businesses, particularly those that are reliant on trade, to plan ahead.

“This uncertainty will impact on investment and ultimately hiring decisions at home and abroad. Heightened uncertainty is the new (ab)normal. Employers and employees are likely to be more cautious in the months ahead.”

Employers Need To Invest In Personal Development

And finally in the same article Sam Dooley, country director of Stepstone Group Ireland, with responsibility for NIJobs, talked about the rise of manufacturing and IT roles in NI, which are vital drivers of economic growth.

He said: “These are high-value sectors, driving innovation and supporting a skilled workforce that consistently attracts government support and inward investment.”

“In an uncertain climate where employees may be less likely to move, feeling valued is paramount. To retain staff, employers will need to invest in personal development through upskilling, provide tailored financial and mental health support, and foster long-term trust through transparent and open communication.”