Recruitment and employment levels have both grown in Northern Ireland as a result over the past 10 years.
Indeed, since the ground-breaking Good Friday Agreement of Easter 1998, official Government figures show that 100,000 more people are employed now than a decade ago, with a total of 782,000 in work. Also looking good, unemployment has fallen from 63,000 (8.1%) to 34,000 (4.2%).
As part of a global trend, some of the decline in manufacturing jobs is due to the erosion of traditional industries such as textiles, much of which have transferred to low-cost Asia.
-- Advertisement --
However, while more people have jobs, the average income earned remains significantly behind that of Great Britain at 81% of the UK average.
This figure causes concern to many observers such as Frank Bryan, Chairman of the Institute of Directors in Northern Ireland.
"Progress has been made but we have very serious worries about the quality of employment on offer.
"We have graduates coming out of our education system and being underemployed, poorly paid and not being given the opportunities to fully utilise their talents," he said.
"Sometimes it suits the British government to point at the figures and say the job is done but there are severe weaknesses in our employment structure," he claimed.
Meanwhile, the Federation of Small Businesses, which represents more than 7,000 members in Northern Ireland, says maintaining economic growth will require some key areas to be addressed.
Chairman, Wilfred Mitchell, points to issues such as the need for rates relief and for a reduction in what he describes as "over zealous rules and regulations".
"This mountain of red tape is hampering many business owners who are spending up to seven hours a week dealing with many complicated financial and legal matters when they could be concentrating on running and possibly expanding their business," he said.
(BMcC)
