The Gross Domestic Product (GDP) in Hinckley and Bosworth was worth an estimated £2.8 billion in 2019, according to figures published by the ONS. Hinckley and Bosworth's GDP growth between 2018 and 2019 was 2.2% per year. Compare GDP by area.
The Manufacturing industry is the largest in Hinckley and Bosworth based on the number of jobs, accounting for 16.1% of roles in the area.
2019 ONS figures suggest that there are 47,000 jobs in Hinckley and Bosworth, which has a working-age (aged 16-65) population of 68,261. The 2019 job density in Hinckley and Bosworth is 0.69, meaning there are 0.69 jobs per member of the Hinckley and Bosworth working-age population.
Hinckley and Bosworth had a mean average salary for full-time employees of £32,124 in 2021. Hinckley and Bosworth's unemployment rate is 4.0% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Hinckley and Bosworth is 68,261 or 60.1% of the total population.
In 2021, 96.0% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 13.0% are self-employed, and 87.0% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Hinckley and Bosworth working-age (aged 16-64) population who have a degree or higher is 46.0%, which is above the 42.8% degree qualification rate for England.
Over 64% of the Hinckley and Bosworth working-age population have at least 2 A-levels (or equivalent), and 8% have no qualifications.
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Main page: Hinckley and Bosworth Salary
The average salary in Hinckley and Bosworth as of 2021 is £32,124. Between 2020 and 2021, average salaries fell by £1,044. Compare average salaries by area.
Hinckley and Bosworth's salary growth rate is -3.15% per year based on changes in average salary between 2020 and 2021, which is 3.15% lower than the average salary growth rate in Hinckley and Bosworth over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Hinckley and Bosworth 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 Hinckley and Bosworth is Science, Research, Engineering And Technology Profs, with roles increasing 132% 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||7,200||12.8%||132.3%|
|Elementary Administration & Service Occs||6,000||10.7%||22.4%|
|Caring Personal Service Occupations||5,200||9.3%||48.6%|
|Skilled Metal, Electrical And Electronic Trades||4,100||7.3%||46.4%|
There was a 4% 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 Hinckley and Bosworth is Manufacturing.
Financial & Insurance companies make up 1% of the Hinckley and Bosworth economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in Hinckley and Bosworth 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||4,000||9.2%|
|Professional, Scientific & Technical||4,000||9.2%|
The fastest-growing industry in Hinckley and Bosworth is Information & Communication, with jobs in the sector increasing 56% between 2019 and 2020 from 800 to 1,250. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Hinckley and Bosworth between 2019 and 2020 was Retail, which saw an 25% decrease in roles, going from 4,000 to 3,000. 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 Hinckley and Bosworth, the number of roles in this sector has risen by 56% 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 Hinckley and Bosworth, 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 65 medium-sized businesses based in Hinckley and Bosworth, 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 385 small businesses based in Hinckley and Bosworth, making up 8.0% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Hinckley and Bosworth's unemployment rate is 4.0% that's 1% 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 Long-term Sick, representing 40.4% of the unemployed population.
Secondary classifications include groups: student, looking after family, 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