Nottingham's economy ranks among the most prosperous in England.
The Gross Domestic Product (GDP) in Nottingham was worth an estimated £12 billion in 2020, according to figures published by the ONS. Nottingham's GDP growth between 2019 and 2020 was -0.9% per year. Compare GDP by area.
The Health industry is the largest in Nottingham based on the number of jobs, accounting for 15.8% of roles in the area.
2020 ONS figures suggest that there are 223,000 jobs in Nottingham, which has a working-age (aged 16-65) population of 225,745. The 2020 job density in Nottingham is 0.99, meaning there are 0.99 jobs per member of the Nottingham working-age population.
Nottingham had a mean average salary for full-time employees of £34,816 in 2022. Nottingham's unemployment rate is 3.9% as of 2022. Compare unemployment rate by area.
The 2020 labour force or working-age population in Nottingham is 225,745 or 70.6% of the total population.
In 2022, 96.1% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 13.4% are self-employed, and 86.6% are employees.
The Annual Population Survey for 2021 published by the ONS reports the percentage of the Nottingham working-age (aged 16-64) population who have a degree or higher is 41.9%, which is below the 42.8% degree qualification rate for England.
Over 58% of the Nottingham working-age population have at least 2 A-levels (or equivalent), and 11% have no qualifications.
Main page: Nottingham Salary
The average salary in Nottingham as of 2022 is £34,816. Between 2021 and 2022, average salaries grew by £627. Compare average salaries by area.
Nottingham's salary growth rate is 1.83% per year based on changes in average salary between 2021 and 2022, which is 1.83% higher than the average salary growth rate in Nottingham over the past 9 years.
Business data published by the ONS in 2021 show the most common job group in Nottingham is Elementary Administration & Service Occs, 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 Nottingham is Leisure, Travel And Related Personal Service Occs, with roles increasing 83% between July 2021 and July 2022. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||18,200||11.2%||9.6%|
|Caring Personal Service Occupations||16,600||10.2%||-11.7%|
|Science, Research, Engineering And Technology Profs||14,700||9.1%||5.8%|
There was a 3% 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 Nottingham is Health. Other major industries include Retail, Business Administration & Support Services, Education, which represents over 10% of roles in Nottingham.
Financial & Insurance companies make up 2% of the Nottingham economy that's lower than the average for England as a whole (~3%).
5% of the total jobs in Nottingham 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 Services||21,000||10.3%|
|Professional, Scientific & Technical||16,000||7.9%|
The fastest-growing industry in Nottingham is Business Administration & Support Services, with jobs in the sector increasing 24% between 2020 and 2021 from 17,000 to 21,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Nottingham between 2020 and 2021 was Agriculture, forestry & fishing, which saw an 87% decrease in roles, going from 75 to 10. 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 Nottingham, the number of roles in this sector has fallen by 9% over the past year, below the 1% annual increase seen in England.
2022 UK Business Count data published by the ONS show there are 85 large businesses in Nottingham, 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 225 medium-sized businesses based in Nottingham, making up 2.3% 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 1,035 small businesses based in Nottingham, making up 10.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Nottingham's unemployment rate is 3.9% that's 1% 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 35.6% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, 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 2022. Data sources: ONS Local statistics