The Gross Domestic Product (GDP) in The East Midlands was worth an estimated £130 billion in 2019, according to figures published by the ONS. The East Midlands's GDP growth between 2018 and 2019 was 3.3% per year. Compare GDP by area.
The Health industry is the largest in The East Midlands based on the number of jobs, accounting for 13.0% of roles in the area.
2019 ONS figures suggest that there are 2,437,000 jobs in The East Midlands, which has a working-age (aged 16-65) population of 3,008,608. The 2019 job density in The East Midlands is 0.81, meaning there are 0.81 jobs per member of the The East Midlands working-age population.
The East Midlands had a mean average salary for full-time employees of £33,156 in 2021. The East Midlands's unemployment rate is 5.6% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in The East Midlands is 3,008,608 or 61.8% of the total population.
In 2021, 94.4% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 11.2% are self-employed, and 88.8% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the The East Midlands working-age (aged 16-64) population who have a degree or higher is 37.2%, which is below the 42.8% degree qualification rate for England.
Over 58% of the The East Midlands working-age population have at least 2 A-levels (or equivalent), and 6% have no qualifications.
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Main page: The East Midlands Salary
The average salary in The East Midlands as of 2021 is £33,156. Between 2020 and 2021, average salaries fell by £1,042. Compare average salaries by area.
The East Midlands's salary growth rate is -3.05% per year based on changes in average salary between 2020 and 2021, which is 3.05% lower than the average salary growth rate in The East Midlands over the past 9 years.
In The East Midlands, the highest average wages are found in Derby where the average salary is £40,485 and the lowest average wages are found in Lincolnshire where the average salary is £30,692. The difference in average salary between the two areas is £9,793 - the average person in Derby earns 31.9% more than the average person in Lincolnshire.
Business data published by the ONS in 2020 show the most common job group in The East Midlands is Elementary Administration & Service Occs, accounting for 9% 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 The East Midlands is Science, Research, Engineering And Technology Profs, with roles increasing 29% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||200,300||8.8%||-3.1%|
|Caring Personal Service Occupations||186,000||8.2%||2.1%|
|Corporate Managers And Directors||173,200||7.6%||-13.3%|
|Business & Public Service Assoc. Professionals||160,300||7.1%||4.1%|
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 The East Midlands is Health. Other major industries include Manufacturing, which represents over 10% of roles in The East Midlands.
Financial & Insurance companies make up 2% of the The East Midlands economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in The East Midlands 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||151,000||7.1%|
The fastest-growing industry in The East Midlands is Information & Communication, with jobs in the sector increasing 28% between 2019 and 2020 from 50,000 to 64,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in The East Midlands between 2019 and 2020 was Business administration & support, which saw an 18% decrease in roles, going from 178,000 to 146,000. 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 The East Midlands, the number of roles in this sector has risen by 28% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 710 large businesses in The East Midlands, 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 2,945 medium-sized businesses based in The East Midlands, making up 1.6% 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 16,395 small businesses based in The East Midlands, making up 8.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
The East Midlands's unemployment rate is 5.6% 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 26.1% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, retired, other, 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