The Gross Domestic Product (GDP) in Leicestershire was worth an estimated £20 billion in 2019, according to figures published by the ONS. Leicestershire's GDP growth between 2018 and 2019 was 2.3% per year. Compare GDP by area.
The Manufacturing industry is the largest in Leicestershire based on the number of jobs, accounting for 12.0% of roles in the area.
2019 ONS figures suggest that there are 352,000 jobs in Leicestershire, which has a working-age (aged 16-65) population of 439,003. The 2019 job density in Leicestershire is 0.80, meaning there are 0.80 jobs per member of the Leicestershire working-age population.
Leicestershire had a mean average salary for full-time employees of £34,606 in 2021. Leicestershire's unemployment rate is 5.5% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Leicestershire is 439,003 or 61.6% of the total population.
In 2021, 94.5% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 11.1% are self-employed, and 88.9% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Leicestershire working-age (aged 16-64) population who have a degree or higher is 42.5%, which is below the 42.8% degree qualification rate for England.
Over 64% of the Leicestershire working-age population have at least 2 A-levels (or equivalent), and 5% have no qualifications.
Main page: Leicestershire Salary
The average salary in Leicestershire as of 2021 is £34,606. Between 2020 and 2021, average salaries grew by £712. Compare average salaries by area.
Leicestershire's salary growth rate is 2.10% per year based on changes in average salary between 2020 and 2021, which is 2.10% higher than the average salary growth rate in Leicestershire over the past 9 years.
In Leicestershire, the highest average wages are found in North West Leicestershire where the average salary is £38,210 and the lowest average wages are found in Melton where the average salary is £26,428. The difference in average salary between the two areas is £11,782 - the average person in North West Leicestershire earns 44.6% more than the average person in Melton.
Business data published by the ONS in 2020 show the most common job group in Leicestershire is Corporate Managers And Directors, 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 Leicestershire is Leisure, Travel And Related Personal Service Occs, with roles increasing 178% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||32,300||9.3%||-19.0%|
|Business & Public Service Assoc. Professionals||28,100||8.1%||-12.7%|
|Elementary Administration & Service Occs||27,600||7.9%||1.8%|
|Caring Personal Service Occupations||26,800||7.7%||2.3%|
There was a 0% 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 Leicestershire is Manufacturing. Other major industries include Professional, Scientific & Technical, which represents over 10% of roles in Leicestershire.
Financial & Insurance companies make up 2% of the Leicestershire economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in Leicestershire 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||35,000||10.8%|
|Transport & Storage||32,000||9.8%|
The fastest-growing industry in Leicestershire is Information & Communication, with jobs in the sector increasing 43% between 2019 and 2020 from 7,000 to 10,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Leicestershire between 2019 and 2020 was Public administration & defence, which saw an 17% decrease in roles, going from 12,000 to 10,000. 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 Leicestershire, the number of roles in this sector has risen by 43% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 115 large businesses in Leicestershire, 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 495 medium-sized businesses based in Leicestershire, 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 2,595 small businesses based in Leicestershire, making up 8.6% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Leicestershire's unemployment rate is 5.5% 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 30.0% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, 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