World's lowest unemployment rate - but long-term problems remain

9.30.43am BST (GMT +0100) Thu 13th Apr 2006

Young Alliance Chair Ian James Parsley has said that news that Northern Ireland has the world's lowest unemployment rate is welcome - but hides the very real threat to jobs across the board.

The North Down Councillor stated: "That Northern Ireland, compared with other countries on the common ILO definition, now has the world's lowest unemployment rate is quite a headline. But the unemployment rate in communist countries was similarly low - and served only to hide economies and lifestyles propped up by public spending which could not go on.

"The truth is that our standard of living compared with Great Britain and the Irish Republic is not improving. Threats to 30,000 manufacturing jobs and 40,000 public-sector jobs provide a dose of reality - and one which we have to act to avoid.

"It is time our political leaders got realistic in order to create a functioning economy with top-quality jobs right here at home. We need to stop talking nonsense about tax rates that are never going to happen, and get real about protecting our industrial base and developing people skilled in new sectors using the devolved powers available to us. Otherwise the Far East, the new democracies in Eastern Europe and our neighbours will leave us behind with nothing to offer investors, local businesses or our most talented graduates.

"That means our politicians have to get their acts together. They could show some responsibility by getting around a table and discussing a feasible economic strategy to make our region truly competitive right now, rather than hanging around for another bout of predictable political posturing five weeks hence.

"Once again, I repeat my call for an all-party economic forum without delay."

ENDS