Recent research by the Ulster University Economic Policy Centre and EPIC Futures NI (2024) highlights that there is spare capacity, beyond the unemployed, in the NI labour market.
These additional forms of spare capacity are include the ‘hidden unemployed’ and the ‘underemployed’.
Dr Kristel Miller, Professor of Entrepreneurship and Small Business Development at Ulster University, told Ulster Business: “At a time when unemployment levels in NI are at near record lows, finding employees with the right skills is more difficult than ever.
“A competitive labour market also illuminates the need to also look internally to ensure firms can retain the staff they currently have, ensuring work is secure and fulfilling, and that they have opportunities for advancement.
“There are strong examples in this year’s Ulster Business Top 100 Northern Ireland Companies list showcasing leading job design and crafting.”
“The hidden unemployed comprise of individuals who are economically inactive but can and do wish to work if additional supports are provide, and individuals on government training programmes. In NI, the largest hidden unemployed groups are women, individuals with disabilities and individuals who are over 50.”
She said there are as many as “50,000 hidden unemployed individuals in NI”.
“EPIC Futures NI is led by Ulster University and involves a consortium of co-investigators across policy, community and voluntary sector and business,” she said.
“There are also over 47,000 underemployed individuals, who are part and full time workers who would like to work more hours. Combined with the unemployed, there is the potential of over 120,000 of available labour in the NI market.
“There are lots of good examples from the Ulster Business Top 100 which have led the way with innovative job design and job crafting. It is important to showcase successes and share best practices to help collectively improve the NI labour market conditions and outcomes.
“However, uncertainty of future funding to support individuals to enter the labour market has made it difficult to capture robust evidence of the longer-term holistic multiplier impacts of programmes. Fundamentally, participating in the labour market not only benefits the economy, but can transform communities, family life and help alleviate pressure on our health and social care systems. However for this to be achieved, it does require a cross-departmental policy approach.
“At a time when public funding is being cut, NI businesses need to be proactive to innovate their human resource practices to ensure their workplaces are inclusive to hidden unemployed and underemployed groups.”
Read the full article in the August Top 100 edition of Ulster Business