EMPLOYMENT levels in Wales remain at a record high with 38,000 more people in work than at this same time last year.

Figures from the Office of National Statistics show that there were 5,000 fewer people out of work between June and August this year.

The unemployment rate stands at 4.3 per cent, which is 0.7 percentage points lower than the UK average and 1.7 per cent below last year's figures.

Wales has also seen the largest annual rise in private sector employment of any region across the UK.

According to Jobcentre Plus, there have been further reductions in the number of people claiming Job Seeker's Allowance across Gwent.

In Newport, the numbers of total claimants has fallen by 3 per cent in the last year with Torfaen seeing reductions of 14 percent.

Caerphilly has seen reductions of 14 percent in total claimants while Monmouthshire is the only exception with a five percent increase in claimants.

Across Wales, the claimant count fell by 300 between August and September and fell 2,100 over the year.

A spokeswoman for Jobcentre Plus said that the Gwent figures reflect a number of new opportunities such as the new McDonalds restaurant in Abergavenny set to employ 70 staff, 36 of which are from the local area.

Speaking today, First Minister Carwyn Jones said: “The decline in unemployment in Wales has outperformed the rest of the UK for the seventh consecutive month.

“We have big ambitions for Wales and its economy and will continue to work hard to support business and ensure the economic conditions to create and safeguard sustainable jobs and training in Wales. That is why we are investing £111milion next year to fund our all-age apprenticeship and traineeships programme, to meet our target of creating 100,000 apprenticeship places over the lifetime of this government.

“We are also allocating an extra £46milion for the new Development Bank of Wales to improve access to lending for thousands of small and medium-sized Welsh companies in order to support our priority for creating and safeguarding jobs right across Wales.

Shadow Cabinet Secretary for Economy, Russell George also welcomed the news, adding.: “These figures are very welcome news for Wales and illustrate continued confidence in the economy.

“It is vital the Welsh Government builds on this record, and more ambitiously utilises devolved levers to ensure Wales has a competitive edge.