COMMENT – Chamber on labour market knowledge

Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, mentioned: 

“The most recent labour market knowledge reveals a blended bag of reports; vacancies proceed to fall and there’s minimal motion within the charges of employment and unemployment but there stays excessive ranges of financial inactivity while wages proceed to outpace iNFLation.

“The labour market continues to be tight and difficult for companies in Wales who’re attempting to recruit the fitting expert employees. Nearly two thirds of companies in Wales skilled difficulties in recruiting suitably expert employees as demonstrated in This fall of 2023 in keeping with our Quarterly Financial Survey.

“Whereas the federal government at UK stage took steps to handle this in final week’s Price range close to childcare entry, there’s nonetheless extra to be completed to assist individuals again into work and to progress resembling making certain honest and versatile workplaces with entry to coaching and upskilling alternatives.

“Each Welsh Labour management candidates have expressed that they need to make Wales a fascinating place to work, highlighting plans to assist honest workplaces and alternatives for abilities improvement which can assist deal with and overcome among the present limitations to work. We have to see this put into plan.”