Wefan Gymraeg

Welsh economy still lagging behind rest of UK

The Welsh Lib Dems have slammed the Welsh Labour Government as economic statistics released today show that the Welsh economy is lagging behind the rest of the United Kingdom.

The Labour Force Survey estimates for the 3 months up to March 2015 show a fall of 0.4 percentage points in the Welsh employment rate compared to the same period a year earlier (currently at 69.4%), compared to a rise of 1.0 percentage points in the UK rate (to 73.5%).

The Welsh unemployment rate has also decreased at a slower rate than the UK average, down 0.1 percentage points in Wales compared to a 1.2 percentage point drop across the UK.

Eluned Parrott AM, the Welsh Liberal Democrat Shadow Economy Minister, said:

“Every part of the UK should be reaping the benefits of economic growth, yet under Labour the Welsh economy is lagging behind the rest of the UK. Today’s figures continue a worrying trend that we’ve seen for some months now.

“The simple fact is that the Welsh Labour Government has nothing in the way of a long-term economic strategy, no joined-up plan on how to create jobs and invest in infrastructure. This lack of vision and co-ordinated action is hurting the Welsh economy and the pockets of working people across Wales.

“Welsh Labour Ministers should stop throwing money at ineffective schemes like Jobs Growth Wales, which locked young people into low wages and didn’t give them any qualifications, and seriously develop the skill base of our workforce to build a sustainable economic recovery here in Wales.”

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