Business
Chamber responds to labour market information
Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, mentioned:
“The newest labour market information gives a blended image of the employment panorama; vacancies proceed to fall and the unemployment price is falling however financial inactivity ranges are persistently excessive and employment prices are nonetheless a major concern for employers.
“In Q2 of 2024, over three quarters of companies in Wales (76%) had been underneath stress to lift their costs as a consequence of labour prices in keeping with our Quarterly Financial Survey. These pressures coexist with recruitment challenges, and attracting and retaining expertise in Wales with the suitable abilities for his or her sectors.
“Bridging the abilities hole may assist deliver extra of a stability to the labour market and this might be achieved by improved collaboration between companies, academia, and academic establishments and suppliers, in addition to Regional Studying and Abilities Partnerships which may establish and promote abilities pathways at a extra targeted, native stage.”
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