Wales unemployment levels hits record low of 3%

Unemployment in Wales has hit a record low of 3%, official figures suggest.

The rate has fallen more in the country in the past three months than in any other nation or region of the UK, where overall unemployment stands at 3.8%.

Between September and November, there were 46,000 people in Wales available for work but not working, 18,000 fewer than the previous quarter.

Compared with last year there was a fall in both the number of people counted as employed and unemployed.

This was because the rate of "economic inactivity" has risen - these are working age people who are not available for work because they are on long-term sick, have taken early retirement, or are full-time carers or students.

On the same period last year, the unemployment rate fell from 4.1%, the employment rate was down from 75.8% to 74.9%, and the rate of economic inactivity was up from 20.8% to 22.7%, although this remains at a relatively low level.

In the north-east of England, a region which was often compared with Wales in the past because of similarities in its economy, unemployment for September to November stood at 6.2%, employment at 71.4% and economic inactivity at 24%.

Welsh Secretary Simon Hart called it a "thoroughly strong set of statistics" for Wales.

"Thousands of people have found work over the previous quarter and unemployment in Wales is below the UK average," he said.

"This is testament to the hard work both governments are contributing to stimulating our economy."

Wales' Economy Minister, Ken Skates, said the country could be "proud" of record low unemployment.

He said the Welsh Government would continue "standing up for people in every part of Wales and taking the proactive approach that our economy needs in order to prosper and grow".