WIREDGOV

Monthly figures for Jobs Growth Wales, which is part funded by the European Social Fund, show that the programme has now created 10,594 job opportunities with 8,354 young people filling these jobs.

A breakdown of the figures show the self-employment strand of the programme, the young entrepreneur bursary, has already helped to create 200 entrepreneurship start-ups since it began in April 2012. This is well ahead of the initial target for the strand which was to create 200 jobs by the end of March this year.

The young entrepreneur bursary provides up to £6,000 for applicants aged 16-24 and is paid over a four month period.

The figures released yesterday also reveal the extent of the programme’s success in helping young people into employment once their six month opportunity comes to an end.

In the programme’s private sector strand, 80% of young people progressed into sustained employment, an apprenticeship or further learning upon completing a six month opportunity. This compares to an initial target of 70%.

Latest data for the programme’s graduate strand shows that very few young people who took part– just 1% - became unemployed after they completed their six month opportunity.

For Jobs Growth Wales as a whole, the number of young people who have progressed onto an apprenticeship after completing their opportunity has now reached 25%.

Welcoming the figures released today, the Deputy Minister said:

“Jobs Growth Wales continues to exceed all expectations. Last month we smashed through the 10,000 milestone in the number of jobs created and approved and now we’re seeing just how successful the programme has become in attracting young entrepreneurs.

“As a Government, we want to instil a culture of entrepreneurship in Wales so I’m delighted that Jobs Growth Wales has helped 200 young people to start up their own business – well ahead of target and with the number of applications for the young entrepreneurs bursary continuing to rise.

“Above all, it is the success rates for this programme that show the true value of Jobs Growth Wales. We are providing meaningful, paid job opportunities that end with a real chance of sustained employment.

"Of course, let’s not forget  that 25% of these young people – a quarter of all those who have taken part – have progressed onto an apprenticeship with the added benefit of earning whilst learning. A success rate this high would be the envy of most governments across Europe – it’s a fantastic achievement.”