The Gross Domestic Product (GDP) in Tamworth was worth an estimated £1.9 billion in 2019, according to figures published by the ONS. Tamworth's GDP growth between 2018 and 2019 was 1.2% per year. Compare GDP by area.
The Manufacturing industry is the largest in Tamworth based on the number of jobs, accounting for 13.6% of roles in the area.
2019 ONS figures suggest that there are 36,000 jobs in Tamworth, which has a working-age (aged 16-65) population of 47,163. The 2019 job density in Tamworth is 0.76, meaning there are 0.76 jobs per member of the Tamworth working-age population.
Tamworth had a mean average salary for full-time employees of £30,258 in 2021. Tamworth's unemployment rate is 4.4% as of 2020. Compare unemployment rate by area.
The 2019 labour force or working-age population in Tamworth is 47,163 or 61.4% of the total population.
In 2021, 95.6% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 9.4% are self-employed, and 90.6% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Tamworth 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 49% of the Tamworth working-age population have at least 2 A-levels (or equivalent), and 7% have no qualifications.
Main page: Tamworth Salary
The average salary in Tamworth as of 2021 is £30,258. Between 2020 and 2021, average salaries grew by £1,239. Compare average salaries by area.
Tamworth's salary growth rate is 4.27% per year based on changes in average salary between 2020 and 2021, which is 4.27% higher than the average salary growth rate in Tamworth over the past 8 years.
Business data published by the ONS in 2020 show the most common job group in Tamworth is Corporate Managers And Directors, accounting for 16% 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 Tamworth is Corporate Managers And Directors, with roles increasing 70% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||4,600||16.0%||70.4%|
|Science, Engineering And Technology Associate Profs||3,400||11.8%|
|Business & Public Service Assoc. Professionals||3,200||11.1%||0.0%|
|Teaching And Educational Professionals||3,000||10.4%|
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 Tamworth is Manufacturing. Other major industries include Retail, Business Administration & Support, which represents over 10% of roles in Tamworth.
Financial & Insurance companies make up 1% of the Tamworth economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in Tamworth 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||11.9%|
The fastest-growing industry in Tamworth is Arts, Entertainment & Recreation, with jobs in the sector increasing 25% between 2019 and 2020 from 1,000 to 1,250. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Tamworth between 2019 and 2020 was Accommodation & food services, which saw an 22% decrease in roles, going from 2,250 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 Tamworth, the number of roles in this sector has risen by 11% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 10 large businesses in Tamworth, 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 45 medium-sized businesses based in Tamworth, making up 1.9% 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 Tamworth, making up 10.8% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Tamworth's unemployment rate is 4.4% 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 Long-term Sick, representing 28.3% of the unemployed population.
Secondary classifications include groups: student, 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