Employment in Wales’ technology industry is booming according to new figures out this week, with the number of jobs in the sector up a huge 83% since 2010.
Statistics also show that, on average, 400 more tech sector jobs have been created each month in Wales over the last five years.
Meanwhile Wales’ overall employment rate is now 75.0%, a rate higher than London.
The figures released by the ONS earlier this week are an encouraging indicator for students who received their A Level results yesterday, providing a wealth of jobs and vocational options for young people entering the UK Labour market.
The statistics also follow recent recognition of Wales – by the UK entrepreneur network Tech Nation – as a future hotspot for digital and financial technologies companies, with significant investment and a variety of start-ups arriving in the country over the last 5 years.
Wales is not the only part of the UK benefitting from a thriving tech sector, with 11 of the 12 other regions showing an increase in tech sector jobs, with the greatest increases seen in Wales and the North West.
Wales saw the sharpest rise at 83%, with the South West also rising by 41% since 2010. Overall the number of jobs in the UK tech sector has risen by 38% since 2010.
Secretary of State for Work and Pensions and Minister for Women and Equalities, Amber Rudd said:
“As thousands of students received their A Level results yesterday, it is fantastic to see that Wales’ booming tech sector is able to provide young people with so many opportunities in such an important, future-facing industry.
“People pursuing a career in Wales’ tech sector have never been better placed and these figures are evidence of the Government’s dedication to making sure people have the necessary skills to pursue their career of choice and, ultimately, the ability to safeguard their future.”
Secretary of State for Wales, Alun Cairns said:
“Wales makes a significant contribution to the unique makeup of the UK’s tech industry particularly in fintech, artificial intelligence and cyber security in which Welsh companies such as Amplyfi are leading the way.
“These impressive statistics demonstrate that the growing Welsh tech sector is creating more highly paid, skilled employment opportunities for people across Wales. With this exceptionally high employment rate and a UK Government that is committed to supporting the sector, I am sure that Wales will continue to attract world class talent, enabling the tech sector here to become a world leader.”
The statistics come as UK Government Minister for Wales Kevin Foster visited Airbus and Qioptiq in North Wales, two companies that work closely with Welsh tech companies and benefit greatly from their expertise.
Nationally, this week’s figures also showed the resilience UK labour market as the UK employment rate rose to a joint record high of 76.1% and wages outstripped inflation for the 17th month in a row. More women are in work than ever before as female employment also reached a new record high at 72.1%.