NEWS that the unemployment in Wales have dropped has been welcomed by the First Minister.

Commenting on the latest Labour Market Statistics published on Tuesday, Carwyn Jones said: “I welcome these encouraging Labour Market figures which show that unemployment in Wales has fallen to 4.4%, and is 0.6 percentage points down on the previous quarter.

"Meanwhile the employment rate in Wales is 0.7 percentage points up on the quarter and now stands at 73.4% which is close to an historic high.

“This is welcome news and testament to our hard work to support Wales’ economy in what are economically challenging times. There is no doubt that Welsh Government action, such as our work to establish the Development Bank for Wales, is having a real impact on our economy and providing Wales’ based businesses with the support they need. Indeed figures published today show that in its first financial year of operation the Development Bank of Wales exceeded all its targets, creating and safeguarding nearly 4000 Welsh jobs and supporting over 230 businesses.”