The Gross Domestic Product (GDP) in Rutland was worth an estimated £897 million in 2019, according to figures published by the ONS. Rutland's GDP growth between 2018 and 2019 was 1.6% per year. Compare GDP by area.
The Education industry is the largest in Rutland based on the number of jobs, accounting for 13.8% of roles in the area.
2019 ONS figures suggest that there are 19,000 jobs in Rutland, which has a working-age (aged 16-65) population of 23,453. The 2019 job density in Rutland is 0.81, meaning there are 0.81 jobs per member of the Rutland working-age population.
Rutland had a mean average salary for full-time employees of £33,922 in 2021. Rutland's unemployment rate is 4.1% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Rutland is 23,453 or 57.9% of the total population.
In 2021, 95.9% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 18.0% are self-employed, and 82.0% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Rutland working-age (aged 16-64) population who have a degree or higher is 48.5%, which is above the 42.8% degree qualification rate for England.
Over 68% of the Rutland working-age population have at least 2 A-levels (or equivalent), and 2% have no qualifications.
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Main page: Rutland Salary
The average salary in Rutland as of 2021 is £33,922. Between 2020 and 2021, average salaries fell by £118. Compare average salaries by area.
Rutland's salary growth rate is -0.35% per year based on changes in average salary between 2020 and 2021, which is 0.35% lower than the average salary growth rate in Rutland over the past 7 years.
Business data published by the ONS in 2020 show the most common job group in Rutland is Corporate Managers And Directors, accounting for 19% 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 Rutland is Teaching And Educational Professionals, with roles increasing 120% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||2,200||19.3%||22.2%|
|Business & Public Service Assoc. Professionals||1,300||11.4%||-23.5%|
|Other Managers And Proprietors||1,200||10.5%||20.0%|
|Teaching And Educational Professionals||1,100||9.6%||120.0%|
|Business, Media And Public Service Professionals||1,000||8.8%|
There was a 1% 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 Rutland is Education. Other major industries include Retail, Accommodation & Food Services, which represents over 10% of roles in Rutland.
Financial & Insurance companies make up 1% of the Rutland economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in Rutland are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Accommodation & Food Services||2,000||12.2%|
The fastest-growing industry in Rutland is Property, with jobs in the sector increasing 71% between 2019 and 2020 from 175 to 300. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Rutland between 2019 and 2020 was Business administration & support, which saw an 38% decrease in roles, going from 800 to 500. 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 Rutland, the number of roles in this sector has risen by 25% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 5 large businesses in Rutland, making up 0.2% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 40 medium-sized businesses based in Rutland, 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 165 small businesses based in Rutland, making up 7.5% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Rutland's unemployment rate is 4.1% 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 26.9% 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