Unemployment in Northern Ireland is likely to increase by about 1,000 a month during 2009.
This takes the total out of work from about 34,000 to around 50,000, according to Bank of Ireland economist Alan Bridle.
‘The jobless rate is expected to rise to around 6% as manufacturing, retailing and the services industry follow the trends set by construction,’ he said in an assessment published today.
Mr Bridle predicts that the Northern Ireland economy will contract by around 1% this year. He says there may be a modest recovery in 2010, but the region is at risk of underperforming in the longer term.
However, BoI Northern Ireland believes that the Northern Ireland economy will be better placed for recovery than either the UK overall or the Republic of Ireland, where the downturn has been more dramatic.
