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Redundancies

The level and rate of redundancies are important measures of changes in labour demand. When coupled with changes in total employment, they provide an indication of the overall health of the labour market. However, redundancies may be concentrated in particular sectors of the economy, suggesting that economic restructuring is taking place. For example, the decline in manufacturing has been accompanied by relatively high redundancy rates in that sector of industry.

Actual redundancies have increased almost three-fold in the period April 2008 to March 2009 in relation to the financial period 2007/2008.

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