The Gross Domestic Product (GDP) in Merton was worth an estimated £6.7 billion in 2019, according to figures published by the ONS. Merton's GDP growth between 2018 and 2019 was 5.4% per year. Compare GDP by area.
The Business administration & support industry is the largest in Merton based on the number of jobs, accounting for 14.7% of roles in the area.
2019 ONS figures suggest that there are 100,000 jobs in Merton, which has a working-age (aged 16-65) population of 136,248. The 2019 job density in Merton is 0.73, meaning there are 0.73 jobs per member of the Merton working-age population.
Merton had a mean average salary for full-time employees of £40,021 in 2021. Merton's unemployment rate is 5.6% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Merton is 136,248 or 66.0% of the total population.
In 2021, 94.4% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 13.5% are self-employed, and 86.5% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Merton working-age (aged 16-64) population who have a degree or higher is 59.8%, which is above the 42.8% degree qualification rate for England.
Over 72% of the Merton working-age population have at least 2 A-levels (or equivalent), and 5% have no qualifications.
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Main page: Merton Salary
The average salary in Merton as of 2021 is £40,021. Between 2020 and 2021, average salaries fell by £92. Compare average salaries by area.
Merton's salary growth rate is -0.23% per year based on changes in average salary between 2020 and 2021, which is 0.23% lower than the average salary growth rate in Merton over the past 7 years.
Business data published by the ONS in 2020 show the most common job group in Merton is Corporate Managers And Directors, accounting for 12% 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 Merton is Science, Engineering And Technology Associate Profs, with roles increasing 257% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||13,600||12.5%||51.1%|
|Business, Media And Public Service Professionals||12,900||11.8%||-5.1%|
|Business & Public Service Assoc. Professionals||12,900||11.8%||-12.2%|
|Science, Research, Engineering And Technology Profs||10,700||9.8%||18.9%|
There was a 1% 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 Merton is Business administration & support.
Financial & Insurance companies make up 2% of the Merton economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Merton 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||12,000||14.7%|
|Professional, Scientific & Technical||8,000||9.8%|
|Accommodation & Food Services||7,000||8.6%|
The fastest-growing industry in Merton is Accommodation & Food Services, with jobs in the sector increasing 40% between 2019 and 2020 from 5,000 to 7,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Merton between 2019 and 2020 was Motor trades, 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 Merton, the number of roles in this sector has fallen by 13% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 25 large businesses in Merton, 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 105 medium-sized businesses based in Merton, making up 0.9% 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 640 small businesses based in Merton, making up 5.6% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Merton's unemployment rate is 5.6% 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 35.3% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, other, 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