The Gross Domestic Product (GDP) in Newham was worth an estimated £8 billion in 2019, according to figures published by the ONS. Newham's GDP growth between 2018 and 2019 was 4.0% per year. Compare GDP by area.
The Retail industry is the largest in Newham based on the number of jobs, accounting for 15.2% of roles in the area.
2019 ONS figures suggest that there are 130,000 jobs in Newham, which has a working-age (aged 16-65) population of 248,871. The 2019 job density in Newham is 0.52, meaning there are 0.52 jobs per member of the Newham working-age population.
Newham had a mean average salary for full-time employees of £42,012 in 2021. Newham's unemployment rate is 3.5% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Newham is 248,871 or 70.1% of the total population.
In 2021, 96.5% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 16.7% are self-employed, and 83.3% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Newham working-age (aged 16-64) population who have a degree or higher is 59.7%, which is above the 42.8% degree qualification rate for England.
Over 69% of the Newham working-age population have at least 2 A-levels (or equivalent), and 4% have no qualifications.
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Main page: Newham Salary
The average salary in Newham as of 2021 is £42,012. Between 2020 and 2021, average salaries grew by £1,399. Compare average salaries by area.
Newham's salary growth rate is 3.44% per year based on changes in average salary between 2020 and 2021, which is 3.44% higher than the average salary growth rate in Newham over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Newham is Administrative Occupations, accounting for 11% 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 Newham is Administrative Occupations, with roles increasing 192% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Science, Research, Engineering And Technology Profs||18,000||9.9%||2.9%|
|Business & Public Service Assoc. Professionals||17,100||9.4%||71.0%|
|Corporate Managers And Directors||15,700||8.6%||-2.5%|
|Teaching And Educational Professionals||14,300||7.9%||76.5%|
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 Newham is Retail. Other major industries include Business Administration & Support, Education, which represents over 10% of roles in Newham.
Financial & Insurance companies make up 1% of the Newham economy that's lower than the average for England as a whole (~3%).
2% of the total jobs in Newham 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||10.1%|
|Public Administration & Defence||10,000||8.4%|
The fastest-growing industry in Newham is Public Administration & Defence, with jobs in the sector increasing 67% between 2019 and 2020 from 6,000 to 10,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Newham between 2019 and 2020 was Motor trades, which saw an 44% decrease in roles, going from 1,250 to 700. 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 Newham, the number of roles in this sector has fallen by 29% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 40 large businesses in Newham, making up 0.3% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 85 medium-sized businesses based in Newham, making up 0.7% 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 610 small businesses based in Newham, making up 4.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Newham's unemployment rate is 3.5% that's 2% lower 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 39.3% 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