The Gross Domestic Product (GDP) in Luton was worth an estimated £7.2 billion in 2019, according to figures published by the ONS. Luton's GDP growth between 2018 and 2019 was 3.4% per year. Compare GDP by area.
The Business administration & support industry is the largest in Luton based on the number of jobs, accounting for 19.1% of roles in the area.
2019 ONS figures suggest that there are 104,000 jobs in Luton, which has a working-age (aged 16-65) population of 133,825. The 2019 job density in Luton is 0.78, meaning there are 0.78 jobs per member of the Luton working-age population.
Luton had a mean average salary for full-time employees of £39,363 in 2021. Luton's unemployment rate is 8.1% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Luton is 133,825 or 62.7% of the total population.
In 2021, 91.9% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 13.2% are self-employed, and 86.8% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Luton working-age (aged 16-64) population who have a degree or higher is 34.1%, which is below the 42.8% degree qualification rate for England.
Over 50% of the Luton working-age population have at least 2 A-levels (or equivalent), and 11% have no qualifications.
Main page: Luton Salary
The average salary in Luton as of 2021 is £39,363. Between 2020 and 2021, average salaries fell by £3,146. Compare average salaries by area.
Luton's salary growth rate is -7.40% per year based on changes in average salary between 2020 and 2021, which is 7.40% lower than the average salary growth rate in Luton over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Luton is Elementary Administration & Service Occs, 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 Luton is Science, Engineering And Technology Associate Profs, with roles increasing 157% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||12,700||13.1%||-12.4%|
|Caring Personal Service Occupations||7,100||7.3%||14.5%|
|Business & Public Service Assoc. Professionals||5,900||6.1%||18.0%|
|Science, Research, Engineering And Technology Profs||5,600||5.8%||30.2%|
There was a 3% increase 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 Luton is Business administration & support. Other major industries include Transport & Storage, Health, which represents over 10% of roles in Luton.
Financial & Insurance companies make up 1% of the Luton economy that's lower than the average for England as a whole (~3%).
2% of the total jobs in Luton are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Business Administration & Support||18,000||19.1%|
|Transport & Storage||10,000||10.6%|
The fastest-growing industry in Luton is Health, with jobs in the sector increasing 17% between 2019 and 2020 from 12,000 to 14,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Luton between 2019 and 2020 was Mining, quarrying & utilities, which saw an 25% decrease in roles, going from 300 to 225. 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 Luton, the number of roles in this sector has fallen by 0% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 35 large businesses in Luton, making up 0.5% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 90 medium-sized businesses based in Luton, making up 1.2% 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 465 small businesses based in Luton, making up 6.0% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Luton's unemployment rate is 8.1% that's 3% 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 31.6% of the unemployed population.
Secondary classifications include groups: student, long-term sick, 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