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  • Newcastle upon Tyne

Economy of Newcastle upon Tyne

Area selected: Newcastle upon Tyne
  • England and Wales
  • England
  • North East
  • Tyne and Wear
  • Newcastle upon Tyne
Pie Chart
GDP per capita
£33,182

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People
Unemployment rate
5.3%

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Business
Major Industry
Health

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GDP per capita
Unemployment rate
GDP growth per capita
Area type
Metropolitan District
Population
298,264
GDP
£9.9 billion
Average salary
£36,114
Labour force
204,730
Job Density
0.95

Economy of Newcastle upon Tyne

The Gross Domestic Product (GDP) in Newcastle upon Tyne was worth an estimated £9.9 billion in 2020, according to figures published by the ONS. Newcastle upon Tyne's GDP growth between 2019 and 2020 was -5.5% per year. Compare GDP by area.

The Health industry is the largest in Newcastle upon Tyne based on the number of jobs, accounting for 17.4% of roles in the area.

2020 ONS figures suggest that there are 200,000 jobs in Newcastle upon Tyne, which has a working-age (aged 16-65) population of 204,730. The 2020 job density in Newcastle upon Tyne is 0.98, meaning there are 0.98 jobs per member of the Newcastle upon Tyne working-age population.

Newcastle upon Tyne had a mean average salary for full-time employees of £36,114 in 2022. Newcastle upon Tyne's unemployment rate is 5.3% as of 2022. Compare unemployment rate by area.

Compared to England's figures

  • The GDP value of Newcastle upon Tyne represents 0.5% of the English economy. Newcastle upon Tyne is the 9th metropolitan district in England (of 36 total) when ordered by GDP, and the 6th metropolitan district in England (of 36 total) when ordered by GDP per capita.
  • The 200,000 jobs in Newcastle upon Tyne represents 0.7% of the 30,055,000 reported jobs in England. Newcastle upon Tyne is the 9th metropolitan district in England (of 36 total) when ordered by total jobs, and the 5th metropolitan district in England (of 36 total) when ordered by job density.
  • Newcastle upon Tyne's unemployment rate of 5.3% is 1.4% higher than the unemployment rate for England (3.9%).

Labour Market

The 2020 labour force or working-age population in Newcastle upon Tyne is 204,730 or 68.6% of the total population.

In 2022, 94.7% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 8.8% are self-employed, and 91.2% are employees.

Qualifications

The Annual Population Survey for 2021 published by the ONS reports the percentage of the Newcastle upon Tyne working-age (aged 16-64) population who have a degree or higher is 44.3%, which is above the 42.8% degree qualification rate for England.

Over 63% of the Newcastle upon Tyne working-age population have at least 2 A-levels (or equivalent), and 10% have no qualifications.

Qualifications classifications

  • NVQ 4: Degree or equivalent.
  • NVQ 3: 2 or more A levels or equivalent
  • NVQ 2: 5 or more GCSEs at grades A-C or equivalent
  • NVQ 1: fewer than 5 GCSEs at grades A-C or equivalent
  • NVQ Other: includes foreign qualifications and some professional qualifications.

Salaries in Newcastle upon Tyne

Main page: Newcastle upon Tyne Salary

The average salary in Newcastle upon Tyne as of 2022 is £36,114. Between 2021 and 2022, average salaries grew by £642. Compare average salaries by area.

Newcastle upon Tyne's salary growth rate is 1.81% per year based on changes in average salary between 2021 and 2022, which is 1.81% higher than the average salary growth rate in Newcastle upon Tyne over the past 9 years.

Average Salary
Salary Growth

Jobs in Newcastle upon Tyne

Business data published by the ONS in 2021 show the most common job group in Newcastle upon Tyne is Elementary Administration & Service Occs, 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 Newcastle upon Tyne is Elementary Trades And Related Occupations, with roles increasing 162% between July 2021 and July 2022. In England, the fastest-growing type of role is Corporate Managers And Directors.

Occupation
Number
Percentage
CHANGE
Elementary Administration & Service Occs 13,300 9.4% -6.3%
Health Professionals 11,300 8.0% 24.2%
Business, Media And Public Service Professionals 11,100 7.9% 35.4%
Administrative Occupations 10,700 7.6% -7.0%
Teaching And Educational Professionals 10,600 7.5% 23.3%
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Industries in Newcastle upon Tyne

There was a 6% increase in roles between 2020 and 2021. In England as a whole, there was a 3% decrease.

Based on the total number of jobs, the largest industry in Newcastle upon Tyne is Health. Other major industries include Accommodation & Food Services, Public Administration & Defence, Education, which represents over 10% of roles in Newcastle upon Tyne.

Financial & Insurance companies make up 3% of the Newcastle upon Tyne economy that's higher than the average for England as a whole (~3%).

5% of the total jobs in Newcastle upon Tyne are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.

Industry
Number
Percentage
Health 34,000 17.4%
Education 23,000 11.8%
Accommodation & Food Services 20,000 10.2%
Public Administration & Defence 20,000 10.2%
Professional, Scientific & Technical 18,000 9.2%
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Industry growth in Newcastle upon Tyne

The fastest-growing industry in Newcastle upon Tyne is Agriculture, Forestry & Fishing, with jobs in the sector increasing 50% between 2020 and 2021 from 150 to 225. In England more broadly the fastest-growing industry is Healthcare.

The industry with the biggest decline in Newcastle upon Tyne between 2020 and 2021 was Motor trades, which saw an 22% decrease in roles, going from 2,250 to 1,750. 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 Newcastle upon Tyne, the number of roles in this sector has fallen by 10% over the past year, below the 1% annual increase seen in England.

Person
Average age
35

Newcastle upon Tyne Demographics Arrow Forward

Stats Chart
Crime rate (per 1,000 people)
12,021

Newcastle upon Tyne Crime Arrow Forward

Home
Average rent
£867

Rental Market of Newcastle upon Tyne Arrow Forward

Number of Businesses in Newcastle upon Tyne

2022 UK Business Count data published by the ONS show there are 80 large businesses in Newcastle upon Tyne, making up 0.9% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.

There are 180 medium-sized businesses based in Newcastle upon Tyne, making up 2.1% 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 1,005 small businesses based in Newcastle upon Tyne, making up 11.6% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.

Reasons for unemployment in Newcastle upon Tyne

Newcastle upon Tyne's unemployment rate is 5.3% 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 Long-term Sick, representing 29.5% of the unemployed population.

Secondary classifications include groups: student, 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.

  • Student 22.6%
  • Looking After Family 25.6%
  • Temporary Sick 4.2%
  • Long-term Sick 29.5%
  • Retired 10.4%
  • Other 7.6%

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Areas near Newcastle upon Tyne

District
North Tyneside
GDP per capita £24,398
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District
Sunderland
GDP per capita £27,940
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District
South Tyneside
GDP per capita £14,907
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District
Gateshead
GDP per capita £23,823
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Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2022. Data sources: ONS Local statistics

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