A strengthening economy across Wales has driven unemployment down again with new statistics pointing to a buoyant jobs market.
Over the past year, the headline unemployment rate for Wales fell faster than any other UK region and remains lower than the rate for the UK as a whole. The employment rate has also seen the largest percentage increase across the country with more than 1.4 million people in work.
Main points from today’s Labour Market Statistics include:
- The unemployment level is down 5,000, with the rate down by 0.3 percentage points over the last quarter to 4.8% There were 73,000 unemployed people in the latest data, the lowest since early 2008.
- The claimant count fell by 100 (0.1 per cent) between April and May and fell 3,100 (6.8 per cent) over the year
- The employment level in Wales is down 2,000 over the quarter but the rate is up 0.3 percentage points to 71.9%. Over the year the level increased by 42,000 and the rate was up 1.6 percentage points, the largest percentage point increase of all UK nations and regions.
- Economic inactivity - those people who are not in employment or unemployed, but might for example be studying or looking after a family member – is unchanged compared to the previous quarter. Over the year economic inactivity is down 10,000 and the rate down by 0.5 percentage points.
Alun Cairns, Secretary of State for Wales, said:
An expanding Welsh economy is creating a strong jobs market.
Today’s statistics again point to a confident Wales which is exporting and trading its way to greater success. Also the indications are that difficult decisions on welfare are working, both through changing attitudes and by reducing unemployment.
There is more work to do, and there is also some suggestion that investments are being paused until the EU referendum result is known. But I am confident Wales will continue to pull ahead and continue to create highly skilled jobs with wages to match.