The Gross Domestic Product (GDP) in Tyne and Wear was worth an estimated £31 billion in 2019, according to figures published by the ONS. Tyne and Wear's GDP growth between 2018 and 2019 was 3.0% per year. Compare GDP by area.
The Health industry is the largest in Tyne and Wear based on the number of jobs, accounting for 16.2% of roles in the area.
2019 ONS figures suggest that there are 587,000 jobs in Tyne and Wear, which has a working-age (aged 16-65) population of 732,017. The 2019 job density in Tyne and Wear is 0.80, meaning there are 0.80 jobs per member of the Tyne and Wear working-age population.
Tyne and Wear had a mean average salary for full-time employees of £32,525 in 2021. Tyne and Wear's unemployment rate is 7.4% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Tyne and Wear is 732,017 or 63.8% of the total population.
In 2021, 92.6% of the labour market was recorded as employed, below 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 Tyne and Wear working-age (aged 16-64) population who have a degree or higher is 36.3%, which is below the 42.8% degree qualification rate for England.
Over 56% of the Tyne and Wear working-age population have at least 2 A-levels (or equivalent), and 8% have no qualifications.
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Main page: Tyne and Wear Salary
The average salary in Tyne and Wear as of 2021 is £32,525. Between 2020 and 2021, average salaries fell by £791. Compare average salaries by area.
Tyne and Wear's salary growth rate is -2.37% per year based on changes in average salary between 2020 and 2021, which is 2.37% lower than the average salary growth rate in Tyne and Wear over the past 9 years.
In Tyne and Wear, the highest average wages are found in Newcastle Upon Tyne where the average salary is £35,472 and the lowest average wages are found in South Tyneside where the average salary is £28,497. The difference in average salary between the two areas is £6,975 - the average person in Newcastle Upon Tyne earns 24.5% more than the average person in South Tyneside.
Business data published by the ONS in 2020 show the most common job group in Tyne and Wear is Elementary Administration & Service Occs, accounting for 9% 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 Tyne and Wear is Other Managers And Proprietors, with roles increasing 22% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||49,000||9.5%||-10.1%|
|Caring Personal Service Occupations||41,300||8.0%||9.8%|
|Business & Public Service Assoc. Professionals||34,500||6.7%||0.9%|
There was a 3% 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 Tyne and Wear is Health.
Financial & Insurance companies make up 3% of the Tyne and Wear economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Tyne and Wear 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||50,000||9.6%|
The fastest-growing industry in Tyne and Wear is Motor Trades, with jobs in the sector increasing 13% between 2019 and 2020 from 8,000 to 9,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Tyne and Wear between 2019 and 2020 was Information & communication, which saw an 16% decrease in roles, going from 25,000 to 21,000. 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 Tyne and Wear, the number of roles in this sector has fallen by 16% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 185 large businesses in Tyne and Wear, making up 0.6% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 545 medium-sized businesses based in Tyne and Wear, 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 3,085 small businesses based in Tyne and Wear, making up 10.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Tyne and Wear's unemployment rate is 7.4% that's 2% 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 30.6% of the unemployed population.
Secondary classifications include groups: student, 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