Key economic statistics: July 2020

Monthly data which covers topics such as employment, indices, exports and earnings.

The most recent data in this report is for the three months to May 2020.

While the majority of the time period for these Labour Force Survey estimates cover the coronavirus (COVID-19) pandemic, other data sources offer a timelier and more complete picture in understanding the impact of COVID-19 on the economy.

Employment rate

Chart showing the percentage of the population aged 16-64 who are employed for Wales and the UK. The employment rate in the UK is generally higher than in Wales over the last 10 years. The rate has steadily increased in the UK over the last 4 years but has fluctuated in Wales.

Wales: The employment rate in Wales was 74.8%. This 0.8 percentage points up on the quarter and 0.4 percentage points down on the year.

UK: The UK employment rate was 76.4%. This is 0.2 percentage points down on the quarter and 0.3 percentage points up on the year.

Unemployment rate

Wales: The unemployment rate in Wales was 2.7%. This is 1.0 percentage points down on the quarter and 1.2 percentage points down on the year.

UK: The UK unemployment rate was 3.9%. This is unchanged on the quarter and 0.1 percentage points up on the year.

Economic inactivity rate

Chart showing the percentage of the population aged 16-64 who are economically inactive for Wales and the UK. The economic inactivity rate in Wales is higher than in the UK over the last 10 years. The rate has steadily decreased in the UK over the last 4 years but has fluctuated in Wales.

Wales: The economic inactivity rate in Wales was 23.1%. This is unchanged on the quarter and 1.5 percentage points up on the year.

UK: The UK economic inactivity rate was 20.4%. This is 0.2 percentage points up on the quarter and 0.4 percentage points down on the year.

Monthly earnings from Pay As You Earn Real Time Information

Median pay has grown in recent years but has fallen over the past few months.

In the three months to May 2020, the median monthly pay for Wales was £1,702. This is less than the UK average of £1,809 per month.

Compared with the same period the previous year, Wales saw an increase in monthly pay of 0.7%; the fourth fastest growth across the 12 UK countries and regions.

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