What action is the Welsh Government taking to mitigate a potential surge in the unemployment rate in Wales?
Since the coronavirus pandemic hit, the Welsh Government has committed more than £2.5bn to support Welsh businesses.
The latest figures show that the unemployment rate in Wales is lower than the UK average and Wales is the only UK nation to have increased levels of inward investment during 2020-21. We recognise the urgent need to respond to the impact of the pandemic and the UK’s departure from the EU in order to secure a prosperous future for the Welsh economy.
Supporting young people will be a crucial part of our work to drive Wales’ economic recovery. Our ambitious new Programme for Government includes a commitment to deliver the Young Person’s Guarantee, giving everyone under 25 in Wales the offer of work, education, training, or self-employment. It also commits to creating 125,000 all-age apprenticeships, building on the successful delivery of more than 100,000 apprenticeships between 2016 and 2021.
We have set out priorities for a prosperous, green and equal economy in the Economic Resilience and Reconstruction Mission, which was published in March 2021.
As we move Wales forward, our approach will address the disruption of today while preparing for the economy of tomorrow to protect and create jobs in a sustainable way.