Nottingham's economy ranks among the most prosperous in England.
The Gross Domestic Product (GDP) in Nottingham was worth an estimated £12 billion in 2019, according to figures published by the ONS. Nottingham's GDP growth between 2018 and 2019 was 4.2% per year. Compare GDP by area.
The Health industry is the largest in Nottingham based on the number of jobs, accounting for 16.2% of roles in the area.
2019 ONS figures suggest that there are 223,000 jobs in Nottingham, which has a working-age (aged 16-65) population of 235,356. The 2019 job density in Nottingham is 0.95, meaning there are 0.95 jobs per member of the Nottingham working-age population.
Nottingham had a mean average salary for full-time employees of £34,189 in 2021. Nottingham's unemployment rate is 8.2% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Nottingham is 235,356 or 69.8% of the total population.
In 2021, 91.8% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 7.7% are self-employed, and 92.3% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Nottingham working-age (aged 16-64) population who have a degree or higher is 41.1%, which is below the 42.8% degree qualification rate for England.
Over 61% of the Nottingham working-age population have at least 2 A-levels (or equivalent), and 6% have no qualifications.
Main page: Nottingham Salary
The average salary in Nottingham as of 2021 is £34,189. Between 2020 and 2021, average salaries grew by £689. Compare average salaries by area.
Nottingham's salary growth rate is 2.06% per year based on changes in average salary between 2020 and 2021, which is 2.06% higher than the average salary growth rate in Nottingham over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Nottingham 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 Nottingham is Culture, Media And Sports Occupations, with roles increasing 181% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Caring Personal Service Occupations||18,800||11.2%||12.6%|
|Elementary Administration & Service Occs||16,600||9.9%||-16.6%|
|Science, Research, Engineering And Technology Profs||13,900||8.3%||39.0%|
|Business & Public Service Assoc. Professionals||10,800||6.5%||14.9%|
There was a 1% 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 Nottingham is Health. Other major industries include Retail, Education, which represents over 10% of roles in Nottingham.
Financial & Insurance companies make up 3% of the Nottingham economy that's lower than the average for England as a whole (~3%).
6% of the total jobs in Nottingham are in Information and Communication, one of the key sectors for the future, above the 5% of jobs in England as a whole.
|Professional, Scientific & Technical||17,000||8.6%|
|Business Administration & Support||17,000||8.6%|
The fastest-growing industry in Nottingham is Professional, Scientific & Technical, with jobs in the sector increasing 13% between 2019 and 2020 from 15,000 to 17,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Nottingham between 2019 and 2020 was Wholesale, which saw an 25% decrease in roles, going from 8,000 to 6,000. 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 risen by 10% over the past year, above the 1% annual increase seen in England.
2021 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 215 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 1,025 small businesses based in Nottingham, making up 10.9% 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 8.2% that's 3% 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 37.2% 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