Wales TUC jobs figures reaction - January 2014

Commenting on the latest labour market statistics published today (Wednesday) by the Office for National Statistics, Wales TUC Economic Policy Officer Alex Bevan said:

“It’s encouraging to see another big fall in unemployment and it is important that Wales continues to close the gap on the overall UK measure of unemployment.

“But while headline unemployment is within a whisker of the Bank’s forward guidance threshold, an early interest rate rise would clobber mortgage holders and businesses – jeopardising our economic recovery.

“The unemployment rate alone never tells the full story. There are currently 68,000 workers in Wales on part time hours who are in need of full time work while a further 20,000 people have just spent their second Christmas on the dole and desperate for work.

“Patchy levels of jobs growth in parts of the country means that those who are out of work or facing redundancy know better than anyone that the search for work with enough hours and decent pay is extremely tough.”

ENDS