A £144 million fund which will pay for 52,000 apprenticeships has been announced by the Welsh Government.
The cash will fund apprenticeships in West Wales and the Valleys over the next four years, with the majority of places targeted at 16 to 24-year-olds.
The programme is set to cover a range of traditional and non-traditional areas including construction, engineering, IT and retail.
Each apprentice will have the opportunity to study qualifications from foundation level to advanced level.
It is being funded by £73m in European Union funding and Welsh Government money.
First Minister Carwyn Jones announced the fund at the Wales Forum on Europe event in Cardiff.
The First Minister said: “This substantial investment will support over 50,000 young people in their career progression, helping them achieve advanced qualifications while working and earning at the same time.
“We expect to announce further investment in other aspects of our apprenticeships programme in the coming weeks but this initial funding for West Wales and the Valleys is excellent news, and demonstrates our commitment to boosting the economy while ensuring our young people have the skills they need to succeed.”
Finance and Government Business Minister Jane Hutt, said: “Over £2 billion of EU funds will be invested in Wales over the next five years to support and underpin sustainable economic growth and jobs.
“Backed by £73 million of EU funds, this significant investment in apprenticeships is an excellent example of how EU funds are increasing skills within the Welsh economy and improving the career and earning prospects of thousands of people in Wales.”
Deputy Minister for Skills, Julie James said: “Today’s announcement is excellent news for both young people and employers.
“Not only will this £144m investment help our young people to gain the skills, experience and qualifications they need to succeed in the workplace, it will also help to build local skill levels and provide our employers with the workforce they need to thrive in a modern and increasingly skills based economy.”
I was told during my week long induction period that my apprenticeship would cost £10,000. This was in mid 1970’s monetry value, about £90,000 in today’s money. My training included safety, hygiene, 17 trade tests, 5 years of college & polytechnic, and more than 200 weeks of on the job training directed by skilled men.
£144 M sounds a lot but divided by the number of trainees works out at £2,769 per place. The bulk of these places are not apprenticeships but short training courses.
I was told during my week long induction period that my apprenticeship would cost £10,000. This was in mid 1970’s monetry value, about £90,000 in today’s money. My training included safety, hygiene, 17 trade tests, 5 years of college & polytechnic, and more than 200 weeks of on the job training directed by skilled men.
£144 M sounds a lot but divided by the number of trainees works out at £2,769 per place. The bulk of these places are not apprenticeships but short training courses.