Three Rivers's economy ranks among the most prosperous in England.
The Gross Domestic Product (GDP) in Three Rivers was worth an estimated £4.8 billion in 2020, according to figures published by the ONS. Three Rivers's GDP growth between 2019 and 2020 was -1.6% per year. Compare GDP by area.
The Professional, Scientific & Technical Service (e.g. legal, accounting) industry is the largest in Three Rivers based on the number of jobs, accounting for 14.1% of roles in the area.
2020 ONS figures suggest that there are 50,000 jobs in Three Rivers, which has a working-age (aged 16-65) population of 59,467. The 2020 job density in Three Rivers is 0.84, meaning there are 0.84 jobs per member of the Three Rivers working-age population.
Three Rivers had a mean average salary for full-time employees of £42,704 in 2021. Three Rivers's unemployment rate is 3.8% as of 2022. Compare unemployment rate by area.
The 2020 labour force or working-age population in Three Rivers is 59,467 or 63.3% of the total population.
In 2022, 96.2% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 16.5% are self-employed, and 83.5% are employees.
The Annual Population Survey for 2021 published by the ONS reports the percentage of the Three Rivers working-age (aged 16-64) population who have a degree or higher is 45.3%, which is above the 42.8% degree qualification rate for England.
Over 64% of the Three Rivers working-age population have at least 2 A-levels (or equivalent), and 7% have no qualifications.
Main page: Three Rivers Salary
The average salary in Three Rivers as of 2021 is £42,704. Between 2020 and 2021, average salaries grew by £4,304. Compare average salaries by area.
Three Rivers's salary growth rate is 11.21% per year based on changes in average salary between 2020 and 2021, which is 11.21% higher than the average salary growth rate in Three Rivers over the past 8 years.
Business data published by the ONS in 2021 show the most common job group in Three Rivers is Business, Media And Public Service Professionals, 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 Three Rivers is Skilled Construction And Building Trades, with roles increasing 160% between July 2021 and July 2022. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Business, Media And Public Service Professionals||6,700||15.7%||123.3%|
|Science, Research, Engineering And Technology Profs||6,200||14.6%||29.2%|
|Corporate Managers And Directors||3,500||8.2%||0.0%|
There was a 1% increase in roles between 2020 and 2021. In England as a whole, there was a 3% decrease.
Based on the total number of jobs, the largest industry in Three Rivers is Professional, Scientific & Technical Service (e.g. legal, accounting). Other major industries include Construction, Education, which represents over 10% of roles in Three Rivers.
Financial & Insurance companies make up 4% of the Three Rivers economy that's higher than the average for England as a whole (~3%).
8% of the total jobs in Three Rivers are in Information and Communication, one of the key sectors for the future, above the 5% of jobs in England as a whole.
|Professional, Scientific & Technical||6,000||14.1%|
|Business Administration & Support Services||4,000||9.4%|
|Information & Communication||3,500||8.2%|
The fastest-growing industry in Three Rivers is Information & Communication, with jobs in the sector increasing 40% between 2020 and 2021 from 2,500 to 3,500. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Three Rivers between 2020 and 2021 was Mining, quarrying & utilities, which saw an 33% decrease in roles, going from 900 to 600. 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 Three Rivers, the number of roles in this sector has risen by 40% over the past year, above the 1% annual increase seen in England.
2022 UK Business Count data published by the ONS show there are 25 large businesses in Three Rivers, making up 0.5% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 60 medium-sized businesses based in Three Rivers, making up 1.1% 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 365 small businesses based in Three Rivers, making up 6.8% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Three Rivers's unemployment rate is 3.8% 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 44.5% 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 2022. Data sources: ONS Local statistics