The Gross Domestic Product (GDP) in Harborough was worth an estimated £2.5 billion in 2019, according to figures published by the ONS. Harborough's GDP growth between 2018 and 2019 was 4.0% per year. Compare GDP by area.
The Transport & storage industry is the largest in Harborough based on the number of jobs, accounting for 14.7% of roles in the area.
2019 ONS figures suggest that there are 47,000 jobs in Harborough, which has a working-age (aged 16-65) population of 57,178. The 2019 job density in Harborough is 0.82, meaning there are 0.82 jobs per member of the Harborough working-age population.
Harborough had a mean average salary for full-time employees of £35,804 in 2021. Harborough's unemployment rate is 5.9% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Harborough is 57,178 or 59.8% of the total population.
In 2021, 94.1% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 13.9% are self-employed, and 86.1% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Harborough working-age (aged 16-64) population who have a degree or higher is 46.1%, which is above the 42.8% degree qualification rate for England.
Over 65% of the Harborough working-age population have at least 2 A-levels (or equivalent), and 3% have no qualifications.
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Main page: Harborough Salary
The average salary in Harborough as of 2021 is £35,804. Between 2020 and 2021, average salaries grew by £1,447. Compare average salaries by area.
Harborough's salary growth rate is 4.21% per year based on changes in average salary between 2020 and 2021, which is 4.21% higher than the average salary growth rate in Harborough over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Harborough is Corporate Managers And Directors, accounting for 15% 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 Harborough is Other Managers And Proprietors, with roles increasing 94% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||6,800||15.4%||1.5%|
|Business & Public Service Assoc. Professionals||4,400||10.0%||63.0%|
|Teaching And Educational Professionals||3,900||8.8%||11.4%|
|Other Managers And Proprietors||3,100||7.0%||93.8%|
There was a 6% 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 Harborough is Transport & storage.
Financial & Insurance companies make up 1% of the Harborough economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Harborough are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Transport & Storage||6,000||14.7%|
|Professional, Scientific & Technical||3,500||8.6%|
|Accommodation & Food Services||3,000||7.3%|
The fastest-growing industry in Harborough is Information & Communication, with jobs in the sector increasing 40% between 2019 and 2020 from 1,250 to 1,750. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Harborough between 2019 and 2020 was Mining, quarrying & utilities, which saw an 56% decrease in roles, going from 450 to 200. 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 Harborough, the number of roles in this sector has risen by 40% 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 Harborough, making up 0.3% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 75 medium-sized businesses based in Harborough, 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 410 small businesses based in Harborough, making up 7.6% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Harborough's unemployment rate is 5.9% that's 1% 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 37.2% of the unemployed population.
Secondary classifications include groups: looking after family, 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