The Gross Domestic Product (GDP) in Newcastle upon Tyne was worth an estimated £10 billion in 2019, according to figures published by the ONS. Newcastle upon Tyne's GDP growth between 2018 and 2019 was 3.1% per year. Compare GDP by area.
The Health industry is the largest in Newcastle upon Tyne based on the number of jobs, accounting for 17.8% of roles in the area.
2019 ONS figures suggest that there are 211,000 jobs in Newcastle upon Tyne, which has a working-age (aged 16-65) population of 209,565. The 2019 job density in Newcastle upon Tyne is 1.01, meaning there are 1.01 jobs per member of the Newcastle upon Tyne working-age population.
Newcastle upon Tyne had a mean average salary for full-time employees of £35,472 in 2021. Newcastle upon Tyne's unemployment rate is 7.5% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Newcastle upon Tyne is 209,565 or 68.3% of the total population.
In 2021, 92.5% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 7.6% are self-employed, and 92.4% are employees.
The Annual Population Survey for 2020 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 44.4%, which is above the 42.8% degree qualification rate for England.
Over 62% of the Newcastle upon Tyne working-age population have at least 2 A-levels (or equivalent), and 9% have no qualifications.
Main page: Newcastle upon Tyne Salary
The average salary in Newcastle upon Tyne as of 2021 is £35,472. Between 2020 and 2021, average salaries fell by £354. Compare average salaries by area.
Newcastle upon Tyne's salary growth rate is -0.99% per year based on changes in average salary between 2020 and 2021, which is 0.99% lower than the average salary growth rate in Newcastle upon Tyne over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Newcastle upon Tyne is Elementary Administration & Service Occs, accounting for 10% 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 Science, Engineering And Technology Associate Profs, with roles increasing 137% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||14,200||9.5%||-9.6%|
|Caring Personal Service Occupations||12,500||8.4%||21.4%|
There was a 2% 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 Newcastle upon Tyne is Health. Other major industries include Accommodation & Food Services, 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, above the 5% of jobs in England as a whole.
|Accommodation & Food Services||20,000||10.8%|
|Public Administration & Defence||17,000||9.2%|
The fastest-growing industry in Newcastle upon Tyne is Motor Trades, with jobs in the sector increasing 13% between 2019 and 2020 from 2,000 to 2,250. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Newcastle upon Tyne between 2019 and 2020 was Mining, quarrying & utilities, which saw an 33% decrease in roles, going from 450 to 300. 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 9% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 75 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 960 small businesses based in Newcastle upon Tyne, making up 11.4% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Newcastle upon Tyne's unemployment rate is 7.5% 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 27.5% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, retired, 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