The Gross Domestic Product (GDP) in Redbridge was worth an estimated £6.1 billion in 2019, according to figures published by the ONS. Redbridge's GDP growth between 2018 and 2019 was 1.7% per year. Compare GDP by area.
The Health industry is the largest in Redbridge based on the number of jobs, accounting for 16.7% of roles in the area.
2019 ONS figures suggest that there are 96,000 jobs in Redbridge, which has a working-age (aged 16-65) population of 197,801. The 2019 job density in Redbridge is 0.49, meaning there are 0.49 jobs per member of the Redbridge working-age population.
Redbridge had a mean average salary for full-time employees of £35,084 in 2021. Redbridge's unemployment rate is 4.6% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Redbridge is 197,801 or 64.7% of the total population.
In 2021, 95.4% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 17.2% are self-employed, and 82.8% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Redbridge working-age (aged 16-64) population who have a degree or higher is 53.0%, which is above the 42.8% degree qualification rate for England.
Over 65% of the Redbridge working-age population have at least 2 A-levels (or equivalent), and 9% have no qualifications.
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Main page: Redbridge Salary
The average salary in Redbridge as of 2021 is £35,084. Between 2020 and 2021, average salaries fell by £1,790. Compare average salaries by area.
Redbridge's salary growth rate is -4.85% per year based on changes in average salary between 2020 and 2021, which is 4.85% lower than the average salary growth rate in Redbridge over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Redbridge is Science, Research, Engineering And Technology Profs, 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 Redbridge is Science, Research, Engineering And Technology Profs, with roles increasing 93% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Science, Research, Engineering And Technology Profs||15,600||10.8%||92.6%|
|Business & Public Service Assoc. Professionals||14,700||10.2%||7.3%|
|Business, Media And Public Service Professionals||13,700||9.5%||52.2%|
|Corporate Managers And Directors||11,400||7.9%||7.5%|
There was a 2% 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 Redbridge is Health. Other major industries include Retail, Education, which represents over 10% of roles in Redbridge.
Financial & Insurance companies make up 2% of the Redbridge economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Redbridge 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||7,000||9.0%|
|Professional, Scientific & Technical||6,000||7.7%|
The fastest-growing industry in Redbridge is Mining, Quarrying & Utilities, with jobs in the sector increasing 25% between 2019 and 2020 from 200 to 250. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Redbridge between 2019 and 2020 was Motor trades, which saw an 43% decrease in roles, going from 1,750 to 1,000. 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 Redbridge, the number of roles in this sector has fallen by 33% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 15 large businesses in Redbridge, making up 0.1% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 80 medium-sized businesses based in Redbridge, making up 0.5% 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 700 small businesses based in Redbridge, making up 4.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Redbridge's unemployment rate is 4.6% 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 33.2% 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