Page 17 - Regional Employment & Skills Plan 2019

Occupational Characteristics
The graph below illustrates where regional occupational employment exceeds or is less than national averages.
What is most pertinent from this is that regional employment levels exceed national averages in those occupations where median hourly wages tend to be lower. Elementary, Sales and Customer Service and Caring, Leisure and Other Service Occupations all have a median hourly wages below £10.00 per hour.
To corroborate this, national averages sit higher for a number of the higher paid occupations. These include; Professional, Manager, Directors and Senior Officials and Associate Professional and Technical occupations where median hourly wages range between £14.00 - £20.00.
Largest Occupations
Process, Plant & Machine Operatives
Managers, Directors & Senior Officials
Skills Trade
Sales & Customer Service
Regional National
2.2 Labour Market Failures
Professional
Elementary
Administration & Secretarial
Associate Professional Technical
Caring, Leisure & Other Service
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Labour market failure occurs when the supply and demand elements of a labour market fail to result in an economic efficiency of labour, or when they do not reach an efficient and/or equitable outcome from society’s point of view.
The most commonly cited reasons for labour market failure include;
• The existence of skills gaps,
• Labour immobility, • Inequality.
It could be argued that a number of the aforementioned factors are prevalent in Wales which possibly combine to worsen or stagnate regional economic recovery and ultimately its improvement.
7 RLSP Analysis of EMSI data
Regional Employment & Skills Plan South West & Mid Wales
Policy Context