Jobless figures in Wales are at a near record low as the economy bounces back from the pandemic with soaring vacancies.
The latest ONS statistics show unemployment for October to December was 3.1% – down 0.7% on the previous quarter. It compares to 4.2% in England and 4.1% in Scotland and is close to the lowest figure ever recorded in Wales of 3%.
But there are clouds on the horizon as average weekly pay packets across Britain fell in December by -1.2% at a time the cost of living and the cost of running a business has surged – and looks set to get worse as energy costs rise further.
The employment rate in Wales was up 0.7% to 74.5% – which remains below England (75.9%) but above Scotland (74.1%), Northern Ireland (70.7%) and all the regions in the north of England.
There was a slight improvement in economic inactivity – down 0.1% to 23.1%, but this remains one of the highest rates in the UK with only Northern Ireland, the North East and Yorkshire and Humber with worse rates. These figures include full-time carers or students, and people who are on…
