The number of people unemployed in Wales fell by 7,000 between June and August, latest official figures have revealed,
People out of work now stands at 125,000 – an 8.3% unemployment rate.
Across the UK, unemployment fell by 50,000 in the quarter bringing the figure down to 2.53m.
Mark Hoban, UK Minister for Employment, welcomed the news.
He said: “It’s a real landmark to see more people in work than ever before. Despite the tough economic times the private sector continues to create jobs and our welfare reforms are encouraging people to return to work.”
Janet Jones, Welsh Policy Unit Chair for the Federation of Small Businesses, gave a more cautious welcome.
She said: “A significant reduction in the number of unemployed people in Wales and across the UK is welcome news but it’s now for the Welsh and UK Governments to ensure that these reductions are sustainable so that insecurity around staff headcounts is not an issue for employers.
“Youth unemployment also remains a problem so, whilst the Jobs Growth Wales scheme is welcome, its focus must be on delivering mutually beneficial relationships; where real value and growth are generated for the business and lasting employment opportunities are created for the employee.
“We know that businesses continue to battle economic headwinds and we also await, with interest, the Welsh Minister for Business’s upcoming announcement on the future of business rates in Wales – the resolution of which could significantly help the vitality of the small business community in Wales.”