The Gross Domestic Product (GDP) in Stevenage was worth an estimated £3.1 billion in 2019, according to figures published by the ONS. Stevenage's GDP growth between 2018 and 2019 was 2.6% per year. Compare GDP by area.
The Health industry is the largest in Stevenage based on the number of jobs, accounting for 19.2% of roles in the area.
2019 ONS figures suggest that there are 54,000 jobs in Stevenage, which has a working-age (aged 16-65) population of 56,068. The 2019 job density in Stevenage is 0.96, meaning there are 0.96 jobs per member of the Stevenage working-age population.
Stevenage had a mean average salary for full-time employees of £41,799 in 2021. Stevenage's unemployment rate is 5.4% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Stevenage is 56,068 or 63.6% of the total population.
In 2021, 94.6% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 9.5% are self-employed, and 90.5% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Stevenage working-age (aged 16-64) population who have a degree or higher is 51.0%, which is above the 42.8% degree qualification rate for England.
Over 65% of the Stevenage working-age population have at least 2 A-levels (or equivalent), and 5% have no qualifications.
Main page: Stevenage Salary
The average salary in Stevenage as of 2021 is £41,799. Between 2020 and 2021, average salaries fell by £6,995. Compare average salaries by area.
Stevenage's salary growth rate is -14.34% per year based on changes in average salary between 2020 and 2021, which is 14.34% lower than the average salary growth rate in Stevenage over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Stevenage is Administrative Occupations, accounting for 12% 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 Stevenage is Business & Public Service Assoc. Professionals, with roles increasing 58% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Business & Public Service Assoc. Professionals||4,100||10.8%||57.7%|
|Transport & Mobile Machine Drivers/operatives||4,100||10.8%||46.4%|
|Corporate Managers And Directors||3,600||9.5%||33.3%|
|Caring Personal Service Occupations||3,400||9.0%|
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 Stevenage is Health. Other major industries include Manufacturing, Professional, Scientific & Technical, which represents over 10% of roles in Stevenage.
Financial & Insurance companies make up 2% of the Stevenage economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Stevenage are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Professional, Scientific & Technical||5,000||10.7%|
|Business Administration & Support||4,000||8.5%|
The fastest-growing industry in Stevenage is Mining, Quarrying & Utilities, with jobs in the sector increasing 71% between 2019 and 2020 from 350 to 600. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Stevenage between 2019 and 2020 was Manufacturing, 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 Stevenage, 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 10 large businesses in Stevenage, making up 0.3% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 45 medium-sized businesses based in Stevenage, making up 1.4% 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 250 small businesses based in Stevenage, making up 7.8% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Stevenage's unemployment rate is 5.4% that's 0% 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 Long-term Sick, representing 34.6% of the unemployed population.
Secondary classifications include groups: student, looking after family, retired, 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