- July 29, 2014
- Posted by: Mark Drakeford AM
- Category: Assembly News
More good news for young entrepreneurs as 317 new businesses created.
Deputy Minister for Skills and Technology, Ken Skates, has welcomed the latest Jobs Growth Wales figures showing the Welsh Government’s flagship youth employment programme has now created over 14,500 job opportunities with over 11,300 young people filling these jobs.
This means that the European Social Fund-backed programme has filled 735 job opportunities within just one month.
Last week the Deputy Minister and First Minister joined Jobs Growth Wales’ 10,000th participant, Chloe Bignell from Llanelli, and young people and employers from around Wales to celebrate the success of the flagship youth employment programme.
The latest figures show success rates for the programme continuing strongly, with 82% of young people working in the private sector progressing into employment or further learning after completing their Jobs Growth Wales six month opportunities.
Meanwhile, latest data for the self-employment strand of Jobs Growth Wales – where young people receive a young entrepreneurs’ bursary – shows that 317 new businesses have been created since the programme began in April 2012.
This compares to 276 last month.
The new figures come hot on the heels of Labour Market Statistics showing a reduction of nearly 10% over the past year in the level of 16-17 year olds unemployed.
Welcoming today’s figures the Deputy Minister said:
“Only last week the First Minister and I were meeting the 10,000th young person to take part in Jobs Growth Wales. Now, within just one month, the figure has leapt up to over 11,000, with over 700 additional young people in work. That is a truly impressive figure and shows that more than two years on, this programme keeps going from strength to strength.
“I also had the pleasure last week of meeting young entrepreneurs who had set up their own business thanks to the Jobs Growth Wales young entrepreneurs’ bursary. I’m therefore delighted to see that this strand of the programme is performing so well and playing its part in driving our economy forward.
“The fall we’ve seen in youth unemployment in Wales is no coincidence. It’s clear that Jobs Growth Wales is playing its part in helping our young people into paid, meaningful work, allowing them to demonstrate their potential whilst helping our employers to grow.”