The Gross Domestic Product (GDP) in Boston was worth an estimated £1.7 billion in 2019, according to figures published by the ONS. Boston's GDP growth between 2018 and 2019 was 2.6% per year. Compare GDP by area.
The Health industry is the largest in Boston based on the number of jobs, accounting for 18.4% of roles in the area.
2019 ONS figures suggest that there are 35,000 jobs in Boston, which has a working-age (aged 16-65) population of 42,302. The 2019 job density in Boston is 0.83, meaning there are 0.83 jobs per member of the Boston working-age population.
Boston had a mean average salary for full-time employees of £26,784 in 2021. Boston's unemployment rate is 9.7% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Boston is 42,302 or 59.7% of the total population.
In 2021, 90.3% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 0.0% are self-employed, and 100.0% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Boston working-age (aged 16-64) population who have a degree or higher is 23.3%, which is below the 42.8% degree qualification rate for England.
Over 44% of the Boston working-age population have at least 2 A-levels (or equivalent), and 14% have no qualifications.
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Main page: Boston Salary
The average salary in Boston as of 2021 is £26,784. Between 2020 and 2021, average salaries grew by £677. Compare average salaries by area.
Boston's salary growth rate is 2.59% per year based on changes in average salary between 2020 and 2021, which is 2.59% higher than the average salary growth rate in Boston over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Boston is Transport & Mobile Machine Drivers/operatives, accounting for 28% of all roles in the area. In England as a whole, the largest job group is Business & Public Service Assoc. Professionals.
The fastest-growing type of job in Boston is Transport & Mobile Machine Drivers/operatives, with roles increasing 116% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Transport & Mobile Machine Drivers/operatives||4,100||27.7%||115.8%|
|Process, Plant And Machines Operatives||3,500||23.6%||-25.5%|
|Caring Personal Service Occupations||3,200||21.6%|
|Customer Service Occupations||2,600||17.6%|
There was a 0% increase in roles between 2019 and 2020. In England as a whole, there was a 2% decrease.
Based on the total number of jobs, the largest industry in Boston is Health. Other major industries include Manufacturing, Business Administration & Support, which represents over 10% of roles in Boston.
Financial & Insurance companies make up 1% of the Boston economy that's lower than the average for England as a whole (~3%).
1% of the total jobs in Boston are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Business Administration & Support||4,000||12.3%|
|Agriculture, Forestry & Fishing||3,000||9.2%|
The fastest-growing industry in Boston is Information & Communication, with jobs in the sector increasing 33% between 2019 and 2020 from 150 to 200. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Boston between 2019 and 2020 was Financial & insurance, which saw an 22% decrease in roles, going from 225 to 175. In England more broadly the industry with the biggest year on year decline was Arts, entertainment & recreation, with roles decreasing by 8%.
The Information and communication industry includes many of the top companies of the future. In Boston, the number of roles in this sector has risen by 33% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 15 large businesses in Boston, making up 0.7% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 50 medium-sized businesses based in Boston, making up 2.2% of total businesses - in England, 1.5% of businesses are medium-sized. A medium-sized business is defined as having between 50 and 249 employees.
There are 240 small businesses based in Boston, making up 10.5% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Boston's unemployment rate is 9.7% that's 4% higher than the average unemployment rate for England as a whole. Unemployment rates are the number of unemployed people as a percentage of the working-age population.
The main group within the unemployment population is Long-term Sick, representing 37.5% of the unemployed population.
Secondary classifications include groups: looking after family, retired, all of which represent over 10% of the unemployed population.
In England as a whole, students are the main group within the unemployed population, accounting for 28.9% of the unemployed population.
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2021. Data sources: ONS Local statistics