Warwick's economy ranks among the most prosperous in England.
The Gross Domestic Product (GDP) in Warwick was worth an estimated £7.3 billion in 2019, according to figures published by the ONS. Warwick's GDP growth between 2018 and 2019 was 1.2% per year. Compare GDP by area.
The Professional, Scientific & Technical Service (e.g. legal, accounting) industry is the largest in Warwick based on the number of jobs, accounting for 11.1% of roles in the area.
2019 ONS figures suggest that there are 100,000 jobs in Warwick, which has a working-age (aged 16-65) population of 92,708. The 2019 job density in Warwick is 1.08, meaning there are 1.08 jobs per member of the Warwick working-age population.
Warwick had a mean average salary for full-time employees of £38,145 in 2021. Warwick's unemployment rate is 5.5% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Warwick is 92,708 or 64.0% of the total population.
In 2021, 94.5% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 11.5% are self-employed, and 88.5% are employees.
Warwick's working-age population ranks among the most educated in England.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Warwick working-age (aged 16-64) population who have a degree or higher is 64.4%, which is above the 42.8% degree qualification rate for England.
Over 77% of the Warwick working-age population have at least 2 A-levels (or equivalent), and 1% have no qualifications.
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Main page: Warwick Salary
The average salary in Warwick as of 2021 is £38,145. Between 2020 and 2021, average salaries fell by £1,556. Compare average salaries by area.
Warwick's salary growth rate is -3.92% per year based on changes in average salary between 2020 and 2021, which is 3.92% lower than the average salary growth rate in Warwick over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Warwick is Corporate Managers And Directors, accounting for 13% 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 Warwick is Teaching And Educational Professionals, with roles increasing 74% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||9,200||13.2%||35.3%|
|Business, Media And Public Service Professionals||8,400||12.1%||58.5%|
|Business & Public Service Assoc. Professionals||7,600||10.9%||-26.2%|
|Science, Research, Engineering And Technology Profs||6,600||9.5%||-34.7%|
There was a 3% increase 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 Warwick is Professional, Scientific & Technical Service (e.g. legal, accounting). Other major industries include Health, which represents over 10% of roles in Warwick.
Financial & Insurance companies make up 1% of the Warwick economy that's lower than the average for England as a whole (~3%).
7% of the total jobs in Warwick 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||10,000||11.1%|
|Business Administration & Support||9,000||10.0%|
The fastest-growing industry in Warwick is Business Administration & Support, with jobs in the sector increasing 29% between 2019 and 2020 from 7,000 to 9,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Warwick between 2019 and 2020 was Motor trades, which saw an 20% decrease in roles, going from 2,500 to 2,000. 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 Warwick, the number of roles in this sector has risen by 20% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 45 large businesses in Warwick, 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 125 medium-sized businesses based in Warwick, making up 1.6% 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 640 small businesses based in Warwick, making up 8.4% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Warwick's unemployment rate is 5.5% 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 Student, representing 37.2% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, 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