The Gross Domestic Product (GDP) in Oldham was worth an estimated £4.8 billion in 2019, according to figures published by the ONS. Oldham's GDP growth between 2018 and 2019 was 3.6% per year. Compare GDP by area.
The Health industry is the largest in Oldham based on the number of jobs, accounting for 15.3% of roles in the area.
2019 ONS figures suggest that there are 94,000 jobs in Oldham, which has a working-age (aged 16-65) population of 145,944. The 2019 job density in Oldham is 0.64, meaning there are 0.64 jobs per member of the Oldham working-age population.
Oldham had a mean average salary for full-time employees of £32,254 in 2021. Oldham's unemployment rate is 5.9% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Oldham is 145,944 or 61.4% of the total population.
In 2021, 94.1% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 12.1% are self-employed, and 87.9% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Oldham working-age (aged 16-64) population who have a degree or higher is 28.3%, which is below the 42.8% degree qualification rate for England.
Over 51% of the Oldham working-age population have at least 2 A-levels (or equivalent), and 10% have no qualifications.
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Main page: Oldham Salary
The average salary in Oldham as of 2021 is £32,254. Between 2020 and 2021, average salaries fell by £456. Compare average salaries by area.
Oldham's salary growth rate is -1.39% per year based on changes in average salary between 2020 and 2021, which is 1.39% lower than the average salary growth rate in Oldham over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Oldham 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 Oldham is Culture, Media And Sports Occupations, with roles increasing 78% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Caring Personal Service Occupations||10,900||10.5%||1.9%|
|Business & Public Service Assoc. Professionals||10,200||9.8%||47.8%|
|Elementary Administration & Service Occs||9,300||9.0%||1.1%|
|Science, Research, Engineering And Technology Profs||7,200||6.9%||41.2%|
There was a 6% 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 Oldham is Health. Other major industries include Manufacturing, Retail, Education, which represents over 10% of roles in Oldham.
Financial & Insurance companies make up 1% of the Oldham economy that's lower than the average for England as a whole (~3%).
2% of the total jobs in Oldham 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||5,000||6.4%|
The fastest-growing industry in Oldham is Agriculture, Forestry & Fishing, with jobs in the sector increasing 0% between 2019 and 2020 from 250 to 250. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Oldham between 2019 and 2020 was Motor trades, which saw an 20% decrease in roles, going from 2,500 to 2,000. 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 Oldham, 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 25 large businesses in Oldham, 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 105 medium-sized businesses based in Oldham, making up 1.5% 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 725 small businesses based in Oldham, making up 10.1% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Oldham's unemployment rate is 5.9% that's 1% 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 26.7% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, retired, 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