The research – carried out for the Wales TUC by Transition Economics – shows that fast-tracking spending on projects such as social housing, public transport, and decarbonisation could make a significant contribution to the economic recovery.
Broken down by sector, projected job creation from a £6bn investment in infrastructure would mean:
These jobs would benefit some of the sectors and demographics hit hardest by the COVID19 emergency. Over 75% of the jobs would be created in sectors that traditionally employ non-graduate workers.
Shavanah Taj, Wales TUC General Secretary, said:
“The best way to protect our economy is to keep people in work. And that’s why we’ve been calling for an extension to the job retention scheme beyond October.
“But we also need urgent action to create equitable and inclusive new job opportunities for all workers in Wales. We have suffered from long-term under-investment in our nation’s infrastructure. Investing in green and ambitious projects now will not only create work for thousands of people in Wales but will also provide huge long term benefits to the Welsh economy, which is particularly crucial as we set to leave the EU.
“The costs of inaction far outweigh the costs of making these investments. We need the UK Government to provide the level of funding that Wales needs".
Commenting on the publication of the report, the Future Generations Commissioner, Sophie Howe, said:
"This analysis from Wales TUC shows the potential of investment in key sectors to enable a green, fair and prosperous recovery from COVID-19.
“We urgently need a recovery that increases equality, provides skills, training and employment opportunities in industries of the future, while incentivising every sector in Wales to meet the well-being goals of the Well-being of Future Generations Act.
“This analysis shows this is within reach through wise investment and bold stimulus decisions.”