Workers in Wales feel optimistic about their ability to adapt to shifting workplace dynamics, according to a new report.
Employment Hero's inaugural global Annual Jobs Report has revealed the latest trends in the UK employment sector.
The UK Government Budget in October 2024 has had a lasting impact on the UK employment landscape, the researchers said. Negative perceptions of the jobs market are now widespread among workers in Wales, as 63% of those surveyed believe that the labour market is getting worse.
At the same time, nearly four-in-ten (39%) feel there is too much competition for jobs. This is demonstrated by the majority of workers in Wales, 55%, feeling settled in their current role and having no intention to move elsewhere. This is the third highest proportion out of all UK regions surveyed.
More positively, however, Employment Hero’s latest platform data shows a strong uptick in the employment rate in Wales over the past year. The region’s employment rate for September is up 5.7% compared to June, while over the full year the rate is up 9.1%.
Amid challenging market conditions, the majority of workers in Wales are job hugging, with 55% now prioritising job security over ambition. This could demonstrate concern in Wales about a weak labour market, with employees preferring to hold onto their roles.
However, despite the deeply competitive jobs market, 39% of workers in Wales are confident they could land a new job within three months. Looking ahead, they also have a positive outlook on the future of their careers, as the majority (57%) feel confident their skills are valuable in the evolving jobs market.
Elsewhere, 37% of workers in Wales believe their employer provides good training and upskilling opportunities, while over three-quarters (76%) are confident about adapting to new technologies in their role, the joint second-highest proportion out of all UK regions surveyed.
Kevin Fitzgerald, UK Managing Director at Employment Hero, said:
“Across the UK as a whole, we are seeing workers job hugging in an attempt to weather the current storm in the labour market. The impact of the hike in employer National Insurance Contributions last year continues to have a ripple effect right across the economy. As we head towards the Autumn Budget, avoiding more tax changes that trigger knee-jerk reactions from businesses will be critical to rebuilding confidence.
“In the face of these headwinds, workers in Wales have retained some degree of optimism. Despite the majority prioritising job security over ambition, it is encouraging to see a strong proportion of workers in the region feeling confident in their ability to find a new job in short order. Workers in Wales feel they have the skills to future proof their careers and are supported by their employers when it comes to development, which is crucial for job mobility.”
The UK 2025 data is drawn from aggregated insights from more than 350,000 small businesses and 2 million employees in Australia, New Zealand, and the UK, alongside a YouGov survey of 3,635 workers, the report charts a global workforce navigating a world fraught with conflict and unease, but also opportunity for growth and reinvention.
