Figures showWelsh jobs market is in good health

THE number of people in work in Wales climbed to nearly 1.4 million in the three months to the end of January, an increase of 2.2% on the same period the year before.

It means the employment rate among 16 to 64-year-olds now stands at 73.3%, a near-record high, while the unemployment rate has fallen to 4.5%.

Economic inactivity has continued its downward trend, with 23.3% of the working-age population now affected. The figure includes people looking after a relative, on long-term sick leave or who have given up looking for work.

First Minister Carwyn Jones said: “These latest statistics show that the jobs market in Wales is continuing to outperform almost every other part of the UK, with an employment rate that is 0.4 percentage points up on the quarter and 1.6 percentage points up on the year.

“Meanwhile our unemployment rate is now 0.3 percentage points lower than the UK average and 0.8 percentage points down on the year. Economic inactivity in Wales is also down on both the quarter and the year.

“In the last month I have announced that, following Welsh Government support, we have been able to safeguard 400 high-quality jobs at GE Aviation Wales and have signed a historic agreement with Heathrow Airport that will help ensure that the construction of the airport’s third runway maximises job creation in Wales.”

The unemployment rate across the whole of the UK has fallen to its lowest since the summer of 1975, with a record number of people in work.

But the jobs boom has also seen a record number of workers employed on zero-hours contracts in their main job. Workers on the controversial contracts increased by 101,000 in the last quarter of 2016 to 905,000 compared with the previous year.

The Office for National Statistics said those on zero-hours contracts were more likely to be young, women, part-time or in full-time education.

UK Employment Minister Damian Hinds said: “I’m delighted by another set of record-breaking figures showing more people in work than ever before and unemployment falling to its lowest in 12 years.”

Average earnings increased by 2.2% in the year to January, down by 0.4% on the previous month. And record 4.8 million people are now self-employed, up by 49,000 on the quarter and 148,000 over the past year, representing 15.1% of the total workforce.