The Gross Domestic Product (GDP) in Hyndburn was worth an estimated £1.7 billion in 2019, according to figures published by the ONS. Hyndburn's GDP growth between 2018 and 2019 was 1.3% per year. Compare GDP by area.
The Manufacturing industry is the largest in Hyndburn based on the number of jobs, accounting for 18.1% of roles in the area.
2019 ONS figures suggest that there are 34,000 jobs in Hyndburn, which has a working-age (aged 16-65) population of 49,277. The 2019 job density in Hyndburn is 0.69, meaning there are 0.69 jobs per member of the Hyndburn working-age population.
Hyndburn had a mean average salary for full-time employees of £32,991 in 2021. Hyndburn's unemployment rate is 4.8% as of 2019. Compare unemployment rate by area.
The 2019 labour force or working-age population in Hyndburn is 49,277 or 60.7% of the total population.
In 2021, 95.2% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 9.1% are self-employed, and 90.9% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Hyndburn working-age (aged 16-64) population who have a degree or higher is 31.1%, which is below the 42.8% degree qualification rate for England.
Over 49% of the Hyndburn working-age population have at least 2 A-levels (or equivalent), and 6% have no qualifications.
Main page: Hyndburn Salary
The average salary in Hyndburn as of 2021 is £32,991. Between 2020 and 2021, average salaries fell by £1,231. Compare average salaries by area.
Hyndburn's salary growth rate is -3.60% per year based on changes in average salary between 2020 and 2021, which is 3.60% lower than the average salary growth rate in Hyndburn over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Hyndburn is Elementary Administration & Service Occs, accounting for 17% 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 Hyndburn is Elementary Administration & Service Occs, with roles increasing 118% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||4,800||17.4%||118.2%|
|Skilled Metal, Electrical And Electronic Trades||3,100||11.2%||24.0%|
|Corporate Managers And Directors||2,900||10.5%||-25.6%|
|Health & Social Care Assoc. Professionals||2,700||9.8%|
There was a 5% 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 Hyndburn is Manufacturing. Other major industries include Retail, Health, which represents over 10% of roles in Hyndburn.
Financial & Insurance companies make up 1% of the Hyndburn economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in Hyndburn are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
The fastest-growing industry in Hyndburn is Information & Communication, with jobs in the sector increasing 17% between 2019 and 2020 from 600 to 700. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Hyndburn between 2019 and 2020 was Business administration & support, which saw an 33% decrease in roles, going from 1,500 to 1,000. 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 Hyndburn, the number of roles in this sector has risen by 17% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 5 large businesses in Hyndburn, 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 65 medium-sized businesses based in Hyndburn, making up 2.7% 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 270 small businesses based in Hyndburn, making up 11.4% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Hyndburn's unemployment rate is 4.8% that's 0% 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 Student, representing 43.7% 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