According to the latest Labour Market statistics, Wales - as this blog has predicted - is well on the way to hitting 100,000 out of work by the end of the year. In addition, the number of economically inactive is going up as well.
And the reaction from the Assembly Government? Well, according to the BBC, a spokesman said
"the numbers were not a surprise, and the impact of the downturn on the car and steel industries had had a big impact on Wales. Today's figures are a statistical confirmation of what we already knew from all the anecdotal evidence available showing a serious down-turn in the economy," he said."
Obviously, they didn't read this article in February on the problems within the labour market or this one in August on the worsening state of the UK economy.
And the reaction from the Assembly Government? Well, according to the BBC, a spokesman said
"the numbers were not a surprise, and the impact of the downturn on the car and steel industries had had a big impact on Wales. Today's figures are a statistical confirmation of what we already knew from all the anecdotal evidence available showing a serious down-turn in the economy," he said."
Obviously, they didn't read this article in February on the problems within the labour market or this one in August on the worsening state of the UK economy.
Comments
I would guess that our glorious strategy of attracting multis here with Welsh taxpayer bribes will be put to a severe test as of next year when Barack Obama starts implementing his protectionist policies.
150,000 by year end? Or is that a conservative estimate?
There is talk that around 80 firms have contacted WAG to say they are in serious trouble and need support. If that is the case, then we could be seeing considerably higher unemployment by the end of 2009.