The Gross Domestic Product (GDP) in Melton was worth an estimated £1.4 billion in 2019, according to figures published by the ONS. Melton's GDP growth between 2018 and 2019 was 2.6% per year. Compare GDP by area.
The Manufacturing industry is the largest in Melton based on the number of jobs, accounting for 21.3% of roles in the area.
2019 ONS figures suggest that there are 23,000 jobs in Melton, which has a working-age (aged 16-65) population of 30,435. The 2019 job density in Melton is 0.76, meaning there are 0.76 jobs per member of the Melton working-age population.
Melton had a mean average salary for full-time employees of £26,428 in 2021. Melton's unemployment rate is 7.0% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Melton is 30,435 or 59.2% of the total population.
In 2021, 93.0% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 14.4% are self-employed, and 85.6% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Melton working-age (aged 16-64) population who have a degree or higher is 37.7%, which is below the 42.8% degree qualification rate for England.
Over 66% of the Melton working-age population have at least 2 A-levels (or equivalent), and 7% have no qualifications.
Main page: Melton Salary
The average salary in Melton as of 2021 is £26,428. Between 2020 and 2021, average salaries grew by £174. Compare average salaries by area.
Melton's salary growth rate is 0.66% per year based on changes in average salary between 2020 and 2021, which is 0.66% higher than the average salary growth rate in Melton over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Melton is Caring Personal Service Occupations, accounting for 23% 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 Melton is Caring Personal Service Occupations, with roles increasing 48% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Caring Personal Service Occupations||3,400||23.1%||47.8%|
|Elementary Administration & Service Occs||2,300||15.6%||-48.9%|
|Corporate Managers And Directors||1,700||11.6%||-22.7%|
|Other Managers And Proprietors||1,700||11.6%||6.3%|
|Business & Public Service Assoc. Professionals||1,400||9.5%|
There was a 4% 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 Melton is Manufacturing.
Financial & Insurance companies make up 1% of the Melton economy that's lower than the average for England as a whole (~3%).
1% of the total jobs in Melton 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||1,750||7.5%|
|Arts, Entertainment & Recreation||1,750||7.5%|
The fastest-growing industry in Melton is Information & Communication, with jobs in the sector increasing 43% between 2019 and 2020 from 175 to 250. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Melton between 2019 and 2020 was Mining, quarrying & utilities, which saw an 33% decrease in roles, going from 225 to 150. 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 Melton, 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 5 large businesses in Melton, 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 30 medium-sized businesses based in Melton, 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 205 small businesses based in Melton, making up 8.2% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Melton's unemployment rate is 7.0% that's 2% 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 26.1% of the unemployed population.
Secondary classifications include groups: 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