Mixed news for Ulster economy
THE Ulster economy was given a boost on Wednesday with an announcement a Canadian telecommunications company is to invest in the Province, creating 60 jobs.
However, in contrast it was also revealed the amount of people claiming unemployment benefit here has risen the highest for over 20 years.
As the credit crunch continues to bite, it is thought the downturn in the local construction industry has contributed significantly for the September increase.
The amount of claimants rose by 1,200 to 28,900.
Bucking the trend, BTI Systems confirmed it is basing a new European headquarters and software centre in the Greater Belfast area.
Economy Minister Arlene Foster confirmed the North American company will input 2.3million in wages and salaries into the local economy.
"Today's announcement is positive news which strongly reinforces Northern Ireland's reputation as a cost competitive location for investment by international firms seeking to grow their businesses, particularly in the Europe, Middle East and Africa region," she said.
"This new European base will allow BTI Systems to access the highly skilled people and knowledge infrastructure that have attracted some of the world's most prestigious technology firms to Northern Ireland."
On the local rise in unemployment, the minister expressed disappointment but pointed to the fact those claiming benefits in Northern Ireland remained below the UK average.
"The slow-down in the housing market and wider construction industry in particular is having a large impact, with former construction workers accounting for the majority of the rise in benefit claimants during September," she said.
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Weather for Belfast
Saturday 11 February 2012
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