The Gross Domestic Product (GDP) in North West Leicestershire was worth an estimated £4.3 billion in 2019, according to figures published by the ONS. North West Leicestershire's GDP growth between 2018 and 2019 was 3.7% per year. Compare GDP by area.
The Transport & storage industry is the largest in North West Leicestershire based on the number of jobs, accounting for 23.2% of roles in the area.
2019 ONS figures suggest that there are 69,000 jobs in North West Leicestershire, which has a working-age (aged 16-65) population of 64,708. The 2019 job density in North West Leicestershire is 1.07, meaning there are 1.07 jobs per member of the North West Leicestershire working-age population.
North West Leicestershire had a mean average salary for full-time employees of £38,210 in 2021. North West Leicestershire's unemployment rate is 2.7% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in North West Leicestershire is 64,708 or 61.7% of the total population.
In 2021, 97.3% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 7.5% are self-employed, and 92.5% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the North West Leicestershire working-age (aged 16-64) population who have a degree or higher is 40.5%, which is below the 42.8% degree qualification rate for England.
Over 66% of the North West Leicestershire working-age population have at least 2 A-levels (or equivalent), and 6% have no qualifications.
Main page: North West Leicestershire Salary
The average salary in North West Leicestershire as of 2021 is £38,210. Between 2020 and 2021, average salaries grew by £4,736. Compare average salaries by area.
North West Leicestershire's salary growth rate is 14.15% per year based on changes in average salary between 2020 and 2021, which is 14.15% higher than the average salary growth rate in North West Leicestershire over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in North West Leicestershire is Caring Personal Service 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 North West Leicestershire is Elementary Administration & Service Occs, with roles increasing 95% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Caring Personal Service Occupations||5,000||11.4%||25.0%|
|Corporate Managers And Directors||4,400||10.0%||-42.9%|
|Business & Public Service Assoc. Professionals||4,400||10.0%||-20.0%|
|Science, Research, Engineering And Technology Profs||3,800||8.7%||65.2%|
There was a 11% 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 North West Leicestershire is Transport & storage. Other major industries include Manufacturing, Professional, Scientific & Technical, which represents over 10% of roles in North West Leicestershire.
Financial & Insurance companies make up 1% of the North West Leicestershire economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in North West Leicestershire are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Transport & Storage||16,000||23.2%|
|Professional, Scientific & Technical||7,000||10.1%|
|Business Administration & Support||6,000||8.7%|
The fastest-growing industry in North West Leicestershire is Transport & Storage, with jobs in the sector increasing 78% between 2019 and 2020 from 9,000 to 16,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in North West Leicestershire between 2019 and 2020 was Arts, entertainment & recreation, which saw an 25% decrease in roles, going from 2,000 to 1,500. 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 West Leicestershire, the number of roles in this sector has risen by 33% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 30 large businesses in North West Leicestershire, making up 0.7% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 120 medium-sized businesses based in North West Leicestershire, making up 2.6% 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 395 small businesses based in North West Leicestershire, making up 8.6% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
North West Leicestershire's unemployment rate is 2.7% 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 Looking After Family, representing 32.2% of the unemployed population.
Secondary classifications include groups: student, 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