Area type
Non-metropolitan District
Population
147,617
GDP
£4.7 billion
Average salary
£34,530
Labour force
98,209
Job Density
1.06
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Preston's economy ranks among the most prosperous in England.
The Gross Domestic Product (GDP) in Preston was worth an estimated £4.7 billion in 2020, according to figures published by the ONS. Preston's GDP growth between 2019 and 2020 was -5.6% per year. Compare GDP by area.
The Health industry is the largest in Preston based on the number of jobs, accounting for 17.3% of roles in the area.
2020 ONS figures suggest that there are 99,000 jobs in Preston, which has a working-age (aged 16-65) population of 98,209. The 2020 job density in Preston is 1.01, meaning there are 1.01 jobs per member of the Preston working-age population.
Preston had a mean average salary for full-time employees of £34,530 in 2022. Preston's unemployment rate is 8.7% as of 2022. Compare unemployment rate by area.
The 2020 labour force or working-age population in Preston is 98,209 or 66.5% of the total population.
In 2022, 91.3% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 11.7% are self-employed, and 88.3% are employees.
The Annual Population Survey for 2021 published by the ONS reports the percentage of the Preston working-age (aged 16-64) population who have a degree or higher is 38.7%, which is below the 42.8% degree qualification rate for England.
Over 58% of the Preston working-age population have at least 2 A-levels (or equivalent), and 7% have no qualifications.
Qualifications classifications
Main page: Preston Salary
The average salary in Preston as of 2022 is £34,530. Between 2021 and 2022, average salaries grew by £2,756. Compare average salaries by area.
Preston's salary growth rate is 8.67% per year based on changes in average salary between 2021 and 2022, which is 8.67% higher than the average salary growth rate in Preston over the past 9 years.
Business data published by the ONS in 2021 show the most common job group in Preston is Administrative Occupations, accounting for 16% 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 Preston is Teaching And Educational Professionals, with roles increasing 133% between July 2021 and July 2022. In England, the fastest-growing type of role is Corporate Managers And Directors.
Occupation | Number | Percentage | CHANGE |
|---|---|---|---|
| Administrative Occupations | 8,900 | 15.9% | 48.3% |
| Science, Research, Engineering And Technology Profs | 7,100 | 12.7% | 44.9% |
| Business, Media And Public Service Professionals | 5,200 | 9.3% | 73.3% |
| Sales Occupations | 5,100 | 9.1% | 54.5% |
| Elementary Administration & Service Occs | 4,200 | 7.5% | -14.3% |
There was a 2% 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 Preston is Health. Other major industries include Public Administration & Defence, which represents over 10% of roles in Preston.
Financial & Insurance companies make up 3% of the Preston economy that's higher than the average for England as a whole (~3%).
2% of the total jobs in Preston are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
Industry | Number | Percentage |
|---|---|---|
| Health | 16,000 | 17.3% |
| Public Administration & Defence | 13,000 | 14.0% |
| Business Administration & Support Services | 9,000 | 9.7% |
| Education | 8,000 | 8.6% |
| Retail | 7,000 | 7.6% |
The fastest-growing industry in Preston is Property, with jobs in the sector increasing 60% between 2020 and 2021 from 1,250 to 2,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Preston between 2020 and 2021 was Wholesale, which saw an 17% decrease in roles, going from 6,000 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 Preston, the number of roles in this sector has fallen by 0% over the past year, below the 1% annual increase seen in England.
Preston Demographics
Preston Crime
Rental Market of Preston
2022 UK Business Count data published by the ONS show there are 25 large businesses in Preston, making up 0.4% 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 Preston, making up 1.8% 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 555 small businesses based in Preston, making up 9.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Preston's unemployment rate is 8.7% 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 39.6% 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