Wales

  • Wales sees its drop in unemployment and house price growth the best in the UK, some optimism over the future of the Ford site at Bridgend

    August, 2019
    Growth in Wales was 1.3% in the year to June 2019, which ranked the country eighth (out of twelve UK ‘regions’) according to estimates from ESCoE. London had the best performance nationally at 2.3% with Northern Ireland at 1% the worst (12th in the UK). The national growth rate for the same period was 1.5%. With the UK economy contracting by 0.2% in the quarter, low growth in Wales reflects this, but it is possible that the country has outperformed other regional economies which have shrunk. Unemployment in Wales decreased by 10,000 to 61,000 between April and June, the drop of 0.6% to 3.9% was the best in the UK. The South West had the lowest unemployment rate at 2.7%, the North East had the highest at 5.3%, with the UK rate at 3.9%. The South West also had the highest employment rate at 80.5%, which compared with 75.0% in Wales; the UK rate at 76.1% is the joint highest since comparative records began in 1971. In June, Welsh average earnings increased from £553 to £576 per week. London had the highest average earnings of £831; the North East had the lowest at £537. In the UK average earnings grew by 3.7%...