The Gross Domestic Product (GDP) in Greenwich was worth an estimated £6.9 billion in 2019, according to figures published by the ONS. Greenwich's GDP growth between 2018 and 2019 was 7.1% per year. Compare GDP by area.
The Health industry is the largest in Greenwich based on the number of jobs, accounting for 17.7% of roles in the area.
2019 ONS figures suggest that there are 107,000 jobs in Greenwich, which has a working-age (aged 16-65) population of 194,860. The 2019 job density in Greenwich is 0.55, meaning there are 0.55 jobs per member of the Greenwich working-age population.
Greenwich had a mean average salary for full-time employees of £38,305 in 2021. Greenwich's unemployment rate is 7.1% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Greenwich is 194,860 or 67.4% 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, 12.4% are self-employed, and 87.6% are employees.
Greenwich's working-age population ranks among the most educated in England.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Greenwich working-age (aged 16-64) population who have a degree or higher is 62.1%, which is above the 42.8% degree qualification rate for England.
Over 71% of the Greenwich working-age population have at least 2 A-levels (or equivalent), and 2% have no qualifications.
Main page: Greenwich Salary
The average salary in Greenwich as of 2021 is £38,305. Between 2020 and 2021, average salaries grew by £658. Compare average salaries by area.
Greenwich's salary growth rate is 1.75% per year based on changes in average salary between 2020 and 2021, which is 1.75% higher than the average salary growth rate in Greenwich over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Greenwich is Science, Research, Engineering And Technology Profs, accounting for 12% 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 Greenwich is Science, Engineering And Technology Associate Profs, with roles increasing 60% 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||18,000||12.1%||59.3%|
|Business & Public Service Assoc. Professionals||15,100||10.2%||-26.0%|
|Business, Media And Public Service Professionals||14,800||10.0%||-6.3%|
|Elementary Administration & Service Occs||14,200||9.6%||8.4%|
|Corporate Managers And Directors||13,300||9.0%||-8.3%|
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 Greenwich is Health. Other major industries include Retail, Education, which represents over 10% of roles in Greenwich.
Financial & Insurance companies make up 1% of the Greenwich economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Greenwich are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Accommodation & Food Services||7,000||8.2%|
|Business Administration & Support||6,000||7.1%|
The fastest-growing industry in Greenwich is Mining, Quarrying & Utilities, with jobs in the sector increasing 20% between 2019 and 2020 from 1,250 to 1,500. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Greenwich between 2019 and 2020 was Agriculture, forestry & fishing, which saw an 38% decrease in roles, going from 40 to 25. 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 Greenwich, the number of roles in this sector has fallen by 14% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 25 large businesses in Greenwich, making up 0.2% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 80 medium-sized businesses based in Greenwich, making up 0.8% 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 515 small businesses based in Greenwich, making up 5.0% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Greenwich'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 Looking After Family, representing 25.9% of the unemployed population.
Secondary classifications include groups: student, long-term sick, 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