The Gross Domestic Product (GDP) in Peterborough was worth an estimated £7.4 billion in 2019, according to figures published by the ONS. Peterborough's GDP growth between 2018 and 2019 was -2.6% per year. Compare GDP by area.
The Health industry is the largest in Peterborough based on the number of jobs, accounting for 13.2% of roles in the area.
2019 ONS figures suggest that there are 123,000 jobs in Peterborough, which has a working-age (aged 16-65) population of 124,182. The 2019 job density in Peterborough is 0.99, meaning there are 0.99 jobs per member of the Peterborough working-age population.
Peterborough had a mean average salary for full-time employees of £35,274 in 2021. Peterborough's unemployment rate is 3.9% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Peterborough is 124,182 or 61.3% of the total population.
In 2021, 96.1% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 9.4% are self-employed, and 90.6% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Peterborough working-age (aged 16-64) population who have a degree or higher is 32.3%, which is below the 42.8% degree qualification rate for England.
Over 51% of the Peterborough working-age population have at least 2 A-levels (or equivalent), and 8% have no qualifications.
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Main page: Peterborough Salary
The average salary in Peterborough as of 2021 is £35,274. Between 2020 and 2021, average salaries grew by £2,660. Compare average salaries by area.
Peterborough's salary growth rate is 8.16% per year based on changes in average salary between 2020 and 2021, which is 8.16% higher than the average salary growth rate in Peterborough over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Peterborough is Elementary Administration & Service Occs, accounting for 15% 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 Peterborough is Textiles, Printing And Other Skilled Trades, with roles increasing 100% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||14,800||15.3%||22.3%|
|Business & Public Service Assoc. Professionals||8,500||8.8%||73.5%|
|Caring Personal Service Occupations||7,200||7.4%||26.3%|
|Science, Research, Engineering And Technology Profs||6,100||6.3%||60.5%|
There was a 0% 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 Peterborough is Health. Other major industries include Retail, Business Administration & Support, which represents over 10% of roles in Peterborough.
Financial & Insurance companies make up 4% of the Peterborough economy that's higher than the average for England as a whole (~3%).
5% of the total jobs in Peterborough are in Information and Communication, one of the key sectors for the future, above the 5% of jobs in England as a whole.
|Business Administration & Support||14,000||12.3%|
|Transport & Storage||10,000||8.8%|
The fastest-growing industry in Peterborough is Mining, Quarrying & Utilities, with jobs in the sector increasing 50% between 2019 and 2020 from 1,000 to 1,500. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Peterborough between 2019 and 2020 was Professional, scientific & technical, which saw an 29% decrease in roles, going from 7,000 to 5,000. 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 Peterborough, 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 45 large businesses in Peterborough, making up 0.6% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 130 medium-sized businesses based in Peterborough, making up 1.7% 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 600 small businesses based in Peterborough, making up 7.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Peterborough'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 24.3% 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