Last week, some business organisations predicted that the economic downturn was ending and that the UK economy was set to recover by 2010, although the majority of economists remain convinced that unemployment will continue to rise beyond three million by the end of this year. During this doom and gloom, casual reading of the latest jobless statistics would suggest that Wales has bucked the trend. Last month, the latest data showed that, in contrast to the rest of the UK, unemployment actually fell in Wales for the period April-June 2009. Naturally, this was instantly seized on by some politicians as evidence that the economic policies pursued by the Assembly Government were paying dividends as compared to the rest of the UK. However, if we examine the statistics in detail , there may be a very different story emerging. Let’s take, for example, the case of unemployment, which is officially defined as “those without a job, want a job, have actively sought work in the last four weeks and...
Entrepreneurship, innovation and the economy