Wales' unemployment rate falls further to 3.1%

Wales ended last year with further falls in unemployment and more people entering the jobs market, latest figures have shown.

Wales' unemployment rate stands at 3.1%, compared with the UK rate of 4.1%.

There were 47,000 people unemployed between October and December, according to the Office for National Statistics.

Unemployment in Wales fell by 11,000 on the previous quarter, a decrease of 22,000 on the year before.

Wales has also recorded the largest change in the employment rate of all UK areas compared with the same period last year, with an increase of 2.2 percentage points to 74.5%, just below the UK average of 75.5%.

It also had the largest decrease in economic inactivity, with a decrease of 1.1 percentage points to 23.1%, though this is still above the UK average.

The ONS said a record number of job vacancies remained across the UK, with hospitality continuing to struggle with staffing.

And while some sectors have seen pay rises, they are not keeping pace with the soaring cost of living, it said.