Business
Casual and part-time workers: Most vulnerable to job loss
A NEW series of reports that focus on the effects of Coronavirus on employment in Wales was published on Thursday, May 27, by Public Health Wales.
Young people, and those in precarious work have been identified as being especially vulnerable to employment changes caused by the pandemic, with mental wellbeing and struggles to find or keep work cited as major concerns.
Many young people are unaware of the support that is already available and how to access it, suggesting a greater need for organisations to engage with young people on a deeper level, to find solutions to the barriers they face for gaining good, fair employment –critical for people’s good health and wellbeing.
FURLOUGH HAD UNEQUAL IMPACT
Dr Benjamin Gray, Public Health Researcher at Public Health Wales, said: “18-29-year-olds are the age group with the highest proportion placed on furlough (41%) and 2.5 times more likely to have been placed on furlough than the 40-49 years age group and as such risk an uncertain future. Furlough could potentially mask a longer-term impact of Covid-19 on unemployment, and this is a concern, especially amongst this age group.”
Dr Ciarán Humphreys, Consultant in Public Health with the Wider Determinants of Health Unit at Public Health Wales, said: “Young people have told us they have been hit by a multitude of factors that will potentially have long-lasting effects on their employment prospects.
“It’s not just about being in work, though. It is the nature, quality, and long-term prospects of that work – good, fair work, that’s so important for people’s health. We saw this impact play out in the study.
“Some working young people we heard from struggled with the impacts of work changes outside their control on their mental wellbeing, whereas most of those in stable employment generally felt well, supported by their employer, and confident about the future.
“We know that at UK, Wales and local levels there have been important actions taken to mitigate the impact of these employment changes. However, some of these are expected to come to an end.
“A clear message from our work is that it will take a range of approaches to support young people responding to the employment challenges of the pandemic, to improve health.
“Action can be taken at national, regional and local level. Employers, too, have an important role in helping young people into good quality work, and that includes public sector organisations.
“If we are to safeguard future health we will need to work collaboratively and effectively, involving young people.”
The reports are the first in a series of planned employment analysis by the Public Health Wales Population Health programme exploring the impact of Coronavirus on the Welsh labour market and will help inform policy and decision-makers.
Further phases of the research will look at how challenges could be addressed as the economy reopens and recovers, so that those most at risk of longer-term harm from the crisis can secure decent quality future employment, training, and education.
Key findings across the reports were:
• Around a quarter of a million workers were employed in shutdown sectors in Wales (18 per cent of all workers) at the outset of the pandemic with young workers (aged 16-24) much more likely to be employed in shutdown sectors (36 per cent compared to 11 per cent of those aged 35-64).
• Young people faced varied and complex challenges due to the pandemic. In addition to the challenge in gaining, retaining, and partaking in good, fair work, issues raised included the effects of the temporary lockdown, such as disruption of vocational learning and home-schooling, or exacerbation of pre-existing issues such as the nature of employment for young people, Brexit and reported lower uptake of universal credit.
• Those who work in low-paid, insecure work have less protection and rights due to the ‘flexible’ nature of their jobs. Young people are chief among these due to the specific sectoral trends in employment contract types. These employment changes have also translated into significantly different impacts for distinct groups, with those living in deprived areas of Wales appearing to have fared worst.
• There is substantial uncertainty about the future, especially when government schemes such as furlough come to an end as these cushioned the economic pain caused by the pandemic.
• Young people have been disproportionately affected by the pandemic and are likely to feel the effects for some time with concerns over scarring effects on job prospects and the potential for higher tax in the future to pay for the financial support schemes introduced by the Government during the pandemic.
• While interventions are perceived by decision-makers and influencers to be available, apart from the furlough scheme, young people in this study did not, on the whole, appear familiar with them or accessing the support.
• It will be critical to ensure young people are involved in the development of future support.
• Evidence suggests that labour market policies can substantially impact the health of both the employed and unemployed populations in a positive way.
• A range of policies are linked with improved mental and physical health outcomes, as well as reduced health inequalities; however, some, such as benefit sanctions, have been linked to either no health benefit or even harm.
CREATIVE WEST WALES and Pembrokeshire’s Business Team will join forces at a drop in session this month to celebrate and support the region’s amazing creative industries.
Established companies, freelancers or those considering a new start-up, are invited to visit the Bridge Innovation Centre, Pembroke Dock on Friday, 28th March, 9am to 12pm to find out what business support is available from a range of organisations including Pembrokeshire County Council, Business Wales, FSB and Visit Pembrokeshire.
A networking session will offer a chance to meet fellow creatives, explore potential collaborations, and meet representatives from Yr Egin, Creative Wales and the Creative West Wales Network to find out more about assistance available for talented people in the West Wales area, especially those in the music, screen, gaming, publishing and animation sectors.
Pembrokeshire County Council’s Creative Industries Officer Anwen Baldwin said: “There is a wealth of creative talent in this area which should be celebrated and supported.
“We host a popular Business Drop In event on the last Friday of each month. It’s great to be able to focus on the creative industries this month and offer an opportunity to find out more about what support is available, discuss challenges and network with other local people from these sectors.”
If you would like to showcase your work during this event please email anwen.baldwin@pembrokeshire.gov.uk
Refreshments available, register via Eventbrite Digwyddiad Galw Heibio i Fusnesau / Drop In Business Support & Networking Tickets, Multiple Dates | Eventbrite
CELTIC FREEPORT AT MILFORD HAVEN AND PORT TALBOT TO DRIVE UK ECONOMIC GROWTH MISSION
THE CELTIC FREEPORT has been officially launched, bringing significant inward investment to South West Wales and taking a major step towards creating thousands of new jobs, the Welsh Government announced this week.
It also re-affirmed its commitment to £26 million of UK Government investment.
The freeport, covering the ports of Milford Haven and Port Talbot, is set to play a crucial role in the UK’s clean energy future. It spans multiple industries, including clean energy developments, fuel terminals, power generation, heavy engineering, and the steel sector.
Businesses operating within the freeport area will benefit from substantial UK and Welsh Government tax breaks and customs exemptions to encourage investment. The initiative is expected to attract £8.4 billion in private and public investment, generate 11,500 new jobs, and contribute £8.1 billion in economic value (GVA) to the region.
The freeport was launched at an event in Cardiff, attended by Secretary of State for Wales Jo Stevens and Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning.
“Significant step towards a renewable energy superpower”
Jo Stevens, Secretary of State for Wales, said: “This Government has a Plan for Change focused on delivering economic growth and ensuring the UK becomes a renewable energy superpower. This announcement is a significant step towards achieving those ambitions.
“The Celtic Freeport will create up to 11,500 well-paid, highly skilled jobs and could leverage up to £8.4 billion in investment.
“The UK Government has committed £26 million to the freeport, alongside significant incentives from both the UK and Welsh Governments. I am very pleased to see two governments working in partnership to deliver for the people of Wales.”*
“A vital cog in the UK’s low-carbon economy”
Rebecca Evans, Welsh Government Cabinet Secretary for Economy, Energy and Planning, said: “The official opening of the Celtic Freeport sends another clear signal to the world that the industrial heartlands of South Wales are a vital cog in the UK’s low-carbon economy.
“We are already seeing real enthusiasm across the region and beyond to capitalise on the skills and job opportunities that this new industrial age will provide. The Welsh Government will be at Celtic’s side, offering major tax reliefs to attract business investment.
“The Freeport will also be able to use future non-domestic rates revenues to fund vital infrastructure and skills projects, benefiting Port Talbot and Milford Haven for generations to come.”
Freeport projects already making progress
Following the successful launch, Luciana Ciubotariu, CEO of Celtic Freeport, highlighted the rapid progress of key projects: “The Celtic Freeport is making significant strides forward with milestones such as planning consents for LanzaTech’s sustainable aviation fuel production plants, RWE’s Pembroke Green Hydrogen plant, and the launch of the Milford Haven CO₂ Project.
“Other major developments include H2 Energy and Trafigura’s West Wales Hydrogen project securing a hydrogen CfD, Haush establishing a green energy HQ, and the approval of wind turbine developments to expand Dragon Energy’s Renewables Park.
“These initiatives, alongside investments in battery energy storage by RWE and port infrastructure at Port Talbot, are accelerating South Wales’ reindustrialisation and driving a decarbonised economy rich in evolving and new industries.”
A cleaner, greener future
The Celtic Freeport aims to establish a green investment and innovation corridor, driving inward investment, skills development, and national decarbonisation. Key focus areas include:
- Floating offshore wind (FLOW) in the Celtic Sea
- Hydrogen economy and sustainable fuels
- Carbon capture and storage
- Cleaner steel production
- Low-carbon logistics
As one of 12 Freeports across the UK, the Celtic Freeport will play a pivotal role in the UK Government’s Growth Mission, supporting the transition to green industries and creating thousands of high-quality jobs for local communities.
(Cover image: Secretary of State for Wales Jo Stevens – Speaking at the Celtic Freeport event in Cardiff)
SALES activity in the Welsh housing market is expected to edge upwards over the coming months, according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey, despite a fall in new buyer enquiries in February.
A net balance of 15% of surveyors in Wales expect sales to rise over the next three months, the fourth consecutive month that this balance has been on an upward trajectory. Anecdotally, the expectation that interest rates will be cut further is a factor in this thinking.
When it comes to demand though, a net balance of -57% of surveyors in Wales noted a fall in new buyer enquiries through the month of February, the lowest this balance has been since August 2023.
Supply levels were also reported to have fallen last month. A net balance of -27% of Welsh respondents noted a decline in new instructions to sell.
Unsurprisingly, with both demand and supply falling, a net balance of -23% of Welsh surveyors said that sales had fallen through February. This is the lowest this balance has been since late 2023.
On the pricing side, a net balance of 6% of survey respondents said that prices have risen over the past three months. Surveyors in Wales though remain cautious on the pricing outlook as a net balance of -29% of respondents anticipating a fall in prices over the next three months.
However, respondents are more positive on the 12-month outlook, with the net balance of surveyors in Wales expecting both prices and sales to increase over the year ahead (net balances of 72% and 57% respectively).
Regarding the lettings market, a net balance of 29% of respondents in Wales report a rise in tenant demand, whilst a net balance of 29% of surveyors reported a rise in landlord instructions. Consequentially, Welsh surveyors anticipate that rents will fall flat over the next three months.
Commenting on the sales market, Anthony Filice, FRICS of Kelvin Francis Ltd., in Cardiff said: “There is an increased number of properties coming onto the market, giving buyers confidence to make offers and view more. Vendors who are slow realising this change, still pushing for higher prices, reductions and longer sale times follow. Lower mortgage rates and landlords selling are helping first time buyers.”
Discussing the lettings market, David James, FRICS of James Dean in Brecon noted that there is still a shortage of properties to let.
Commenting on the UK picture, Simon Rubinson, RICS Chief Economist, said:
“The UK housing market appears to be losing some momentum as the expiry of the temporary increase in stamp duty thresholds approaches. Some concerns are also being expressed by respondents about the re-emergence of inflationary pressures and the more uncertain geopolitical environment. That said, looking beyond the next few months, sales activity is seen as likely to resume an upward trend with prices also moving higher.
“A key support for the market continues to be the increased flow of existing stock becoming available, giving buyers a greater choice of options. However, leading indicators around new build remain subdued for now, highlighting the significance of the Planning and Infrastructure Bill introduced to Parliament this week.
“Meanwhile, despite a flatter trend in demand for private rental properties, the key RICS metric capturing rental expectations is still pointing to further increases demonstrating that the challenge around supply spans all tenures.”
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