The Gross Domestic Product (GDP) in St Albans was worth an estimated £5.2 billion in 2019, according to figures published by the ONS. St Albans's GDP growth between 2018 and 2019 was 5.2% per year. Compare GDP by area.
The Business administration & support industry is the largest in St Albans based on the number of jobs, accounting for 20.8% of roles in the area.
2019 ONS figures suggest that there are 87,000 jobs in St Albans, which has a working-age (aged 16-65) population of 90,418. The 2019 job density in St Albans is 0.96, meaning there are 0.96 jobs per member of the St Albans working-age population.
St Albans had a mean average salary for full-time employees of £40,751 in 2021. St Albans's unemployment rate is 4.2% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in St Albans is 90,418 or 60.6% of the total population.
In 2021, 95.8% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 14.2% are self-employed, and 85.8% are employees.
St Albans's working-age population ranks among the most educated in England.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the St Albans working-age (aged 16-64) population who have a degree or higher is 66.9%, which is above the 42.8% degree qualification rate for England.
Over 79% of the St Albans working-age population have at least 2 A-levels (or equivalent), and 3% have no qualifications.
Main page: St Albans Salary
The average salary in St Albans as of 2021 is £40,751. Between 2020 and 2021, average salaries fell by £863. Compare average salaries by area.
St Albans's salary growth rate is -2.07% per year based on changes in average salary between 2020 and 2021, which is 2.07% lower than the average salary growth rate in St Albans over the past 8 years.
Business data published by the ONS in 2020 show the most common job group in St Albans is Business, Media And Public Service Professionals, accounting for 17% 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 St Albans is Business & Public Service Assoc. Professionals, with roles increasing 66% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Business, Media And Public Service Professionals||12,200||16.8%||24.5%|
|Business & Public Service Assoc. Professionals||11,300||15.6%||66.2%|
|Science, Research, Engineering And Technology Profs||9,300||12.8%||20.8%|
|Corporate Managers And Directors||7,700||10.6%||-24.5%|
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 St Albans is Business administration & support. Other major industries include Retail, Professional, Scientific & Technical, which represents over 10% of roles in St Albans.
Financial & Insurance companies make up 2% of the St Albans economy that's lower than the average for England as a whole (~3%).
5% of the total jobs in St Albans 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||16,000||20.8%|
|Professional, Scientific & Technical||10,000||13.0%|
The fastest-growing industry in St Albans is Wholesale, with jobs in the sector increasing 17% between 2019 and 2020 from 3,000 to 3,500. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in St Albans between 2019 and 2020 was Professional, scientific & technical, which saw an 17% decrease in roles, going from 12,000 to 10,000. 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 St Albans, 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 35 large businesses in St Albans, 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 St Albans, making up 1.2% 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 580 small businesses based in St Albans, making up 6.5% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
St Albans's unemployment rate is 4.2% 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 30.8% of the unemployed population.
Secondary classifications include groups: looking after family, 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