The Gross Domestic Product (GDP) in Coventry was worth an estimated £11 billion in 2019, according to figures published by the ONS. Coventry's GDP growth between 2018 and 2019 was 1.0% per year. Compare GDP by area.
The Education industry is the largest in Coventry based on the number of jobs, accounting for 14.7% of roles in the area.
2019 ONS figures suggest that there are 183,000 jobs in Coventry, which has a working-age (aged 16-65) population of 255,941. The 2019 job density in Coventry is 0.72, meaning there are 0.72 jobs per member of the Coventry working-age population.
Coventry had a mean average salary for full-time employees of £37,569 in 2021. Coventry's unemployment rate is 5.4% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Coventry is 255,941 or 67.5% of the total population.
In 2021, 94.6% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 8.4% are self-employed, and 91.6% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Coventry working-age (aged 16-64) population who have a degree or higher is 38.9%, which is below the 42.8% degree qualification rate for England.
Over 59% of the Coventry working-age population have at least 2 A-levels (or equivalent), and 7% have no qualifications.
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Main page: Coventry Salary
The average salary in Coventry as of 2021 is £37,569. Between 2020 and 2021, average salaries grew by £1,213. Compare average salaries by area.
Coventry's salary growth rate is 3.34% per year based on changes in average salary between 2020 and 2021, which is 3.34% higher than the average salary growth rate in Coventry over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Coventry is Elementary Administration & Service Occs, accounting for 11% 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 Coventry is Protective Service Occupations, with roles increasing 131% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||19,300||10.9%||-5.9%|
|Science, Research, Engineering And Technology Profs||16,100||9.1%||-1.2%|
|Caring Personal Service Occupations||13,800||7.8%||0.7%|
|Business & Public Service Assoc. Professionals||12,100||6.8%||15.2%|
There was a 1% 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 Coventry is Education. Other major industries include Health, which represents over 10% of roles in Coventry.
Financial & Insurance companies make up 3% of the Coventry economy that's higher than the average for England as a whole (~3%).
2% of the total jobs in Coventry 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||16,000||9.8%|
The fastest-growing industry in Coventry is Transport & Storage, with jobs in the sector increasing 29% between 2019 and 2020 from 7,000 to 9,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Coventry between 2019 and 2020 was Accommodation & food services, which saw an 20% decrease in roles, going from 10,000 to 8,000. 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 Coventry, the number of roles in this sector has fallen by 0% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 55 large businesses in Coventry, 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 155 medium-sized businesses based in Coventry, making up 1.5% 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 830 small businesses based in Coventry, 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.
Coventry's unemployment rate is 5.4% that's 0% 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 37.1% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, 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