The Gross Domestic Product (GDP) in Redditch was worth an estimated £2.5 billion in 2019, according to figures published by the ONS. Redditch's GDP growth between 2018 and 2019 was 0.5% per year. Compare GDP by area.
The Manufacturing industry is the largest in Redditch based on the number of jobs, accounting for 19.7% of roles in the area.
2019 ONS figures suggest that there are 45,000 jobs in Redditch, which has a working-age (aged 16-65) population of 52,327. The 2019 job density in Redditch is 0.86, meaning there are 0.86 jobs per member of the Redditch working-age population.
Redditch had a mean average salary for full-time employees of £33,465 in 2021. Redditch's unemployment rate is 6.1% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Redditch is 52,327 or 61.2% of the total population.
In 2021, 93.9% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 5.9% are self-employed, and 94.1% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Redditch working-age (aged 16-64) population who have a degree or higher is 26.9%, which is below the 42.8% degree qualification rate for England.
Over 48% of the Redditch working-age population have at least 2 A-levels (or equivalent), and 9% have no qualifications.
Main page: Redditch Salary
The average salary in Redditch as of 2021 is £33,465. Between 2020 and 2021, average salaries grew by £2,245. Compare average salaries by area.
Redditch's salary growth rate is 7.19% per year based on changes in average salary between 2020 and 2021, which is 7.19% higher than the average salary growth rate in Redditch over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Redditch is Elementary Administration & Service Occs, accounting for 14% 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 Redditch is Process, Plant And Machines Operatives, with roles increasing 113% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||5,000||13.8%||-5.7%|
|Skilled Metal, Electrical And Electronic Trades||3,600||9.9%||0.0%|
|Process, Plant And Machines Operatives||3,400||9.4%||112.5%|
There was a 3% 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 Redditch is Manufacturing. Other major industries include Health, which represents over 10% of roles in Redditch.
Financial & Insurance companies make up 1% of the Redditch economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Redditch 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||3,500||8.6%|
The fastest-growing industry in Redditch is Mining, Quarrying & Utilities, with jobs in the sector increasing 100% between 2019 and 2020 from 125 to 250. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Redditch between 2019 and 2020 was Accommodation & food services, which saw an 30% decrease in roles, going from 2,500 to 1,750. 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 Redditch, the number of roles in this sector has risen by 20% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 20 large businesses in Redditch, making up 0.7% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 85 medium-sized businesses based in Redditch, making up 2.8% 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 315 small businesses based in Redditch, making up 10.5% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Redditch's unemployment rate is 6.1% 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 37.3% 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 2021. Data sources: ONS Local statistics