Welsh Labour’s First Minister Carwyn Jones has welcomed the latest Labour Market Statistics which show that employment in Wales stands at its highest rate on record.
Employment in Wales stands at 73.5%, the highest rate on record, with 38,000 more workers in employment across Wales than at this same time last year.
The figures show that the decline in unemployment in Wales has outperformed the rest of the UK for the seventh consecutive month. Unemployment in Wales now stands at 4.3%, 0.7% lower than the UK average and a fall of 1.7 percentage points over the past 12 months. Economic inactivity and claimant count in Wales have also decreased over the year.
The Welsh Labour Government is working hard to support businesses and ensure the economic conditions to create and safeguard sustainable jobs and training in Wales. £111milion will be invested next year to fund an all-age apprenticeship and traineeships programme, to meet the target of creating 100,000 apprenticeship places over the lifetime of this government. An extra £46milion is also being invested in the new Development Bank of Wales to improve access to lending for thousands of small and medium-sized Welsh companies in order to support our priority for creating and safeguarding jobs.