The Gross Domestic Product (GDP) in North Hertfordshire was worth an estimated £4.2 billion in 2019, according to figures published by the ONS. North Hertfordshire's GDP growth between 2018 and 2019 was 4.5% per year. Compare GDP by area.
The Manufacturing industry is the largest in North Hertfordshire based on the number of jobs, accounting for 12.6% of roles in the area.
2019 ONS figures suggest that there are 66,000 jobs in North Hertfordshire, which has a working-age (aged 16-65) population of 81,445. The 2019 job density in North Hertfordshire is 0.81, meaning there are 0.81 jobs per member of the North Hertfordshire working-age population.
North Hertfordshire had a mean average salary for full-time employees of £38,895 in 2021. North Hertfordshire's unemployment rate is 3.3% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in North Hertfordshire is 81,445 or 61.0% of the total population.
In 2021, 96.7% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 10.0% are self-employed, and 90.0% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the North Hertfordshire working-age (aged 16-64) population who have a degree or higher is 49.8%, which is above the 42.8% degree qualification rate for England.
Over 65% of the North Hertfordshire working-age population have at least 2 A-levels (or equivalent), and 5% have no qualifications.
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Main page: North Hertfordshire Salary
The average salary in North Hertfordshire as of 2021 is £38,895. Between 2020 and 2021, average salaries grew by £935. Compare average salaries by area.
North Hertfordshire's salary growth rate is 2.46% per year based on changes in average salary between 2020 and 2021, which is 2.46% higher than the average salary growth rate in North Hertfordshire over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in North Hertfordshire 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 North Hertfordshire is Business, Media And Public Service Professionals, with roles increasing 129% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||8,000||11.8%||-10.1%|
|Business, Media And Public Service Professionals||7,100||10.5%||129.0%|
|Business & Public Service Assoc. Professionals||6,900||10.2%||60.5%|
|Science, Research, Engineering And Technology Profs||5,800||8.6%||1.8%|
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 North Hertfordshire is Manufacturing. Other major industries include Professional, Scientific & Technical, which represents over 10% of roles in North Hertfordshire.
Financial & Insurance companies make up 4% of the North Hertfordshire economy that's higher than the average for England as a whole (~3%).
4% of the total jobs in North Hertfordshire are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Professional, Scientific & Technical||6,000||10.8%|
|Accommodation & Food Services||4,500||8.1%|
The fastest-growing industry in North Hertfordshire is Mining, Quarrying & Utilities, with jobs in the sector increasing 78% between 2019 and 2020 from 450 to 800. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in North Hertfordshire between 2019 and 2020 was Property, which saw an 17% decrease in roles, going from 1,500 to 1,250. 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 North Hertfordshire, the number of roles in this sector has fallen by 0% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 15 large businesses in North Hertfordshire, 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 North Hertfordshire, making up 1.6% 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 540 small businesses based in North Hertfordshire, making up 8.3% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
North Hertfordshire's unemployment rate is 3.3% 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 Other, representing 34.4% 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.
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