The Gross Domestic Product (GDP) in Cambridgeshire was worth an estimated £23 billion in 2019, according to figures published by the ONS. Cambridgeshire's GDP growth between 2018 and 2019 was 3.3% per year. Compare GDP by area.
The Education industry is the largest in Cambridgeshire based on the number of jobs, accounting for 14.7% of roles in the area.
2019 ONS figures suggest that there are 393,000 jobs in Cambridgeshire, which has a working-age (aged 16-65) population of 406,640. The 2019 job density in Cambridgeshire is 0.97, meaning there are 0.97 jobs per member of the Cambridgeshire working-age population.
Cambridgeshire had a mean average salary for full-time employees of £41,321 in 2021. Cambridgeshire's unemployment rate is 3.0% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Cambridgeshire is 406,640 or 61.9% of the total population.
In 2021, 97.0% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 9.5% are self-employed, and 90.5% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Cambridgeshire working-age (aged 16-64) population who have a degree or higher is 47.0%, which is above the 42.8% degree qualification rate for England.
Over 66% of the Cambridgeshire working-age population have at least 2 A-levels (or equivalent), and 4% have no qualifications.
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Main page: Cambridgeshire Salary
The average salary in Cambridgeshire as of 2021 is £41,321. Between 2020 and 2021, average salaries grew by £1,458. Compare average salaries by area.
Cambridgeshire's salary growth rate is 3.66% per year based on changes in average salary between 2020 and 2021, which is 3.66% higher than the average salary growth rate in Cambridgeshire over the past 9 years.
In Cambridgeshire, the highest average wages are found in Cambridge where the average salary is £46,879 and the lowest average wages are found in Fenland where the average salary is £31,254. The difference in average salary between the two areas is £15,625 - the average person in Cambridge earns 50.0% more than the average person in Fenland.
Business data published by the ONS in 2020 show the most common job group in Cambridgeshire is Science, Research, Engineering And Technology Profs, 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 Cambridgeshire is Health Professionals, with roles increasing 35% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Science, Research, Engineering And Technology Profs||44,200||13.3%||18.8%|
|Teaching And Educational Professionals||24,600||7.4%||23.6%|
|Corporate Managers And Directors||24,200||7.3%||-19.9%|
|Caring Personal Service Occupations||22,400||6.7%||4.7%|
There was a 4% 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 Cambridgeshire is Education. Other major industries include Professional, Scientific & Technical, Health, which represents over 10% of roles in Cambridgeshire.
Financial & Insurance companies make up 1% of the Cambridgeshire economy that's lower than the average for England as a whole (~3%).
6% of the total jobs in Cambridgeshire are in Information and Communication, one of the key sectors for the future, above the 5% of jobs in England as a whole.
|Professional, Scientific & Technical||50,000||13.6%|
|Business Administration & Support||28,000||7.6%|
The fastest-growing industry in Cambridgeshire is Education, with jobs in the sector increasing 26% between 2019 and 2020 from 43,000 to 54,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Cambridgeshire between 2019 and 2020 was Property, which saw an 25% decrease in roles, going from 6,000 to 4,500. 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 Cambridgeshire, the number of roles in this sector has risen by 10% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 125 large businesses in Cambridgeshire, making up 0.4% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 510 medium-sized businesses based in Cambridgeshire, making up 1.8% 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 2,560 small businesses based in Cambridgeshire, making up 8.8% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Cambridgeshire's unemployment rate is 3.0% that's 2% lower 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 33.7% 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