To ask the Minister for the Economy what steps he will take to (i) reverse the decline in jobs growth; and (ii) reduce the number of redundancies.

While the number of employee jobs here decreased in the quarter to December 2023 by 0.6%, it is more appropriate to consider the year-on-year change, which has increased by 0.8% in the year to December 2023, with the growth of over 6,400 new jobs. I aim to continue and accelerate this trend by working to raise productivity through a focus on skills, support to business and recognition of the specific productivity issues in some areas. I will refocus Invest NI to ensure it delivers locally designed interventions to support our small and medium-sized enterprises, work in collaboration with local partners to enhance existing areas of strength and seek to attract higher productivity Foreign Direct Investment.

My department has been notified of 2,430 confirmed redundancies in the twelve-month period to February 2024, which is a significant increase on the 940 confirmed redundancies in the previous twelve months, although both are similar to pre-pandemic data. I intend to bring forward a Good Jobs Bill, which will provide flexibility and protect workers’ rights, and strengthen the role of trade unions, particularly in low paying sectors.