Number of people in work rises
THE number of people in work in Wales has risen by 25,000 over the past three months to reach a new high of 1.46 million.
Compared to the same time last year, the employment rate is 0.2% higher, while the unemployment rate is unchanged. Economic inactivity has fallen from 23.8% to 22.4% of people aged from 16 to 64.
First Minister Carwyn Jones said: “Employment in Wales today stands at an historic high level, with the number of employed up by 25,000 over the last three months. Improvement in the rate of economic inactivity in Wales has outperformed all parts of England, Scotland and Northern Ireland over the past year, while employment in Wales has improved at a rate of more than double the UK average over that same period.”
He added: “Our ambitions for the Welsh economy are enormous and will continue to work hard to support business and ensure the economic conditions to create and safeguard sustainable jobs and training in Wales.
“Creative industries is one of our sectors in Wales that continues to boom. Just this week we have seen the launch of the latest new studios, created with Welsh Government support, to meet the huge demand for studio space for big budget productions to be shot in Wales. Over the last three years film and TV productions have spent in excess of £113m here, which has contributed to the creation and safeguarding of more than 3,500 jobs.”
Across the UK the unemployment rate has fallen on average to a 32-year low as a record number of people are in work. The jobless total fell by 53,000 to 1.54 million in the quarter to March, a rate of 4.6%, the lowest since summer 1975. Employment has increased by 122,000 to almost 32 million, the highest since records began in 1971, reported the Office for National Statistics (ONS).
Average earnings increased by 2.4% in the year to March, just 0.1% up on the previous month and below the latest CPI inflation rate of 2.7%.
The number of people on the claimant count rose by 19,400 to 792,800, mainly because of an increase in those on Universal Credit.
The number of non-UK nationals working in this country increased by 207,000 to a record 3.5 million between January and March.
The ONS said the increase reflected the admission of several new member states to the European Union.
Alpesh Paleja, CBI principal economist, said: “Rising employment continues to reinforce the importance of the UK’s flexible labour market. However, weakening productivity and slower pay growth, coupled with rising inflation, will continue to squeeze real household earnings.
“Therefore maintaining the UK’s reputation as a great place to do business, for example by increasing R&D spend to 3% of GDP by 2025, will help boost the UK’s productivity. This is the only sustainable route to higher wages, and better living standards.”