New figures revealing that Gross disposable household incomes in Wales grew faster than the UK average in 2015 have been welcomed by Economy Secretary, Ken Skates.
This was published under the 2016 to 2021 administration of the Welsh Government
Latest gross disposable household income (GDHI) figures show that disposable incomes per head in Wales grew by 3.3 per cent between 2014 and 2015.
The statistics mean that in 2015 Wales saw the third highest increase in disposable incomes of all the UK countries and English regions. The largest increase was in the North East where disposable incomes grew by 3.9%.
While disposable incomes in Wales rose faster than the UK average over the latest year, the statistics reveal that the value of disposable income per head in Wales was above Northern Ireland but behind the value for England and Scotland.
Responding to the latest figures Ken Skates said:
“Gross disposable income figures are an important measure of economic well being as they show the amount of money people have left to spend once they have paid their key bills.
“These latest figures are really encouraging. They show that average disposable incomes in Wales are growing faster than the UK average and that our work to support families across Wales is making a real difference to people’s lives.
“They also follow ONS statistics published last week which show that the employment rate in Wales now stands at an historic high of 73.7 per cent.
“We know we are making good progress but we recognise there are challenges ahead. We will continue to do all we can to support businesses across Wales and ensure we have the right economic conditions to drive up employment levels, support sustainable jobs and training, and spread prosperity to all corners of Wales.”