Welsh Secretary responds to latest Labour Market Statistics
The latest employment figures show Wales is well on its way to economic recovery, says the Secretary of State for Wales David Jones.
Labour Market
The figures published today (19 February 2014) by the Office of National Statistics have revealed an increase in employment in Wales over the last quarter, with 7,000 more people in work.
Over the last year, the employment rate in Wales has increased by the highest amount of all the UK nations and regions and by more than three times the increase across the UK.
Unemployment has also fallen by 12,000 over the last quarter, with the unemployment rate in Wales now lower than the average for the UK as a whole. Economic inactivity in Wales has also decreased by 22,000 compared to this time last year.
Mr Jones is currently on a trade visit to Malaysia, meeting with key business leaders to build on existing and new business links, and looking at further opportunities for UK companies and institutions to operate in both regions.
Speaking from Malaysia, he said:
“These figures, once again, show that Wales is well on its way to recovery. In fact we are doing better than other parts of the UK. We now have 42,000 more people in work in Wales since this time last year, and more people in work in Wales than at any time under any previous Government. I know from Welsh businesses there is an ever increasing optimism for the future.
“Wales is a tremendous place to do business and it is something I have been telling business leaders during my trip to Malaysia. There are many opportunities for business to increase their trade and export and I am determined to use every opportunity to support this.
“The positive effects we can now see across the UK shows that our economic plan is working.”
Notes to editors:
- ONS stats link here.