The Gross Domestic Product (GDP) in Walsall was worth an estimated £5.6 billion in 2019, according to figures published by the ONS. Walsall's GDP growth between 2018 and 2019 was 1.2% per year. Compare GDP by area.
The Manufacturing industry is the largest in Walsall based on the number of jobs, accounting for 12.9% of roles in the area.
2019 ONS figures suggest that there are 118,000 jobs in Walsall, which has a working-age (aged 16-65) population of 174,344. The 2019 job density in Walsall is 0.68, meaning there are 0.68 jobs per member of the Walsall working-age population.
Walsall had a mean average salary for full-time employees of £31,219 in 2021. Walsall's unemployment rate is 7.9% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Walsall is 174,344 or 60.8% of the total population.
In 2021, 92.1% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 9.7% are self-employed, and 90.3% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Walsall working-age (aged 16-64) population who have a degree or higher is 27.9%, which is below the 42.8% degree qualification rate for England.
Over 50% of the Walsall working-age population have at least 2 A-levels (or equivalent), and 9% have no qualifications.
Main page: Walsall Salary
The average salary in Walsall as of 2021 is £31,219. Between 2020 and 2021, average salaries grew by £118. Compare average salaries by area.
Walsall's salary growth rate is 0.38% per year based on changes in average salary between 2020 and 2021, which is 0.38% higher than the average salary growth rate in Walsall over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Walsall is Elementary Administration & Service Occs, accounting for 11% 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 Walsall is Protective Service Occupations, with roles increasing 70% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||13,800||11.3%||-13.7%|
|Caring Personal Service Occupations||13,200||10.8%||1.5%|
|Corporate Managers And Directors||9,600||7.9%||39.1%|
|Skilled Metal, Electrical And Electronic Trades||9,200||7.5%||8.2%|
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 Walsall is Manufacturing. Other major industries include Retail, Health, which represents over 10% of roles in Walsall.
Financial & Insurance companies make up 2% of the Walsall economy that's lower than the average for England as a whole (~3%).
1% of the total jobs in Walsall 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||10,000||9.9%|
The fastest-growing industry in Walsall is Retail, with jobs in the sector increasing 20% between 2019 and 2020 from 10,000 to 12,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Walsall between 2019 and 2020 was Agriculture, forestry & fishing, which saw an 25% decrease in roles, going from 100 to 75. 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 Walsall, 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 40 large businesses in Walsall, 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 155 medium-sized businesses based in Walsall, 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 735 small businesses based in Walsall, making up 9.0% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Walsall's unemployment rate is 7.9% that's 3% 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 Student, representing 27.3% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, 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