The Gross Domestic Product (GDP) in Broxtowe was worth an estimated £2.5 billion in 2019, according to figures published by the ONS. Broxtowe's GDP growth between 2018 and 2019 was -1.2% per year. Compare GDP by area.
The Manufacturing industry is the largest in Broxtowe based on the number of jobs, accounting for 13.7% of roles in the area.
2019 ONS figures suggest that there are 43,000 jobs in Broxtowe, which has a working-age (aged 16-65) population of 70,951. The 2019 job density in Broxtowe is 0.61, meaning there are 0.61 jobs per member of the Broxtowe working-age population.
Broxtowe had a mean average salary for full-time employees of £34,963 in 2021. Broxtowe's unemployment rate is 7.1% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Broxtowe is 70,951 or 61.9% of the total population.
In 2021, 92.9% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 7.9% are self-employed, and 92.1% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Broxtowe working-age (aged 16-64) population who have a degree or higher is 51.5%, which is above the 42.8% degree qualification rate for England.
Over 62% of the Broxtowe working-age population have at least 2 A-levels (or equivalent), and 7% have no qualifications.
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Main page: Broxtowe Salary
The average salary in Broxtowe as of 2021 is £34,963. Between 2020 and 2021, average salaries grew by £3,408. Compare average salaries by area.
Broxtowe's salary growth rate is 10.80% per year based on changes in average salary between 2020 and 2021, which is 10.80% higher than the average salary growth rate in Broxtowe over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Broxtowe is Business & Public Service Assoc. Professionals, accounting for 13% 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 Broxtowe is Corporate Managers And Directors, with roles increasing 130% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Business & Public Service Assoc. Professionals||6,300||13.2%||61.5%|
|Elementary Administration & Service Occs||4,900||10.3%||-15.5%|
|Corporate Managers And Directors||4,600||9.7%||130.0%|
|Teaching And Educational Professionals||4,500||9.5%||80.0%|
|Business, Media And Public Service Professionals||4,000||8.4%||66.7%|
There was a 4% decrease 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 Broxtowe is Manufacturing. Other major industries include Retail, which represents over 10% of roles in Broxtowe.
Financial & Insurance companies make up 1% of the Broxtowe economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Broxtowe are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Professional, Scientific & Technical||3,500||9.6%|
The fastest-growing industry in Broxtowe is Agriculture, Forestry & Fishing, with jobs in the sector increasing 50% between 2019 and 2020 from 100 to 150. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Broxtowe between 2019 and 2020 was Business administration & support, which saw an 33% decrease in roles, going from 2,250 to 1,500. 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 Broxtowe, the number of roles in this sector has risen by 50% 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 Broxtowe, making up 0.5% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 45 medium-sized businesses based in Broxtowe, making up 1.4% 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 265 small businesses based in Broxtowe, making up 8.1% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Broxtowe's unemployment rate is 7.1% that's 2% 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 Student, representing 32.3% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, 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