The Gross Domestic Product (GDP) in Welwyn Hatfield was worth an estimated £5.7 billion in 2019, according to figures published by the ONS. Welwyn Hatfield's GDP growth between 2018 and 2019 was 10.9% per year. Compare GDP by area.
The Professional, Scientific & Technical Service (e.g. legal, accounting) industry is the largest in Welwyn Hatfield based on the number of jobs, accounting for 18.0% of roles in the area.
2019 ONS figures suggest that there are 104,000 jobs in Welwyn Hatfield, which has a working-age (aged 16-65) population of 81,319. The 2019 job density in Welwyn Hatfield is 1.28, meaning there are 1.28 jobs per member of the Welwyn Hatfield working-age population.
Welwyn Hatfield had a mean average salary for full-time employees of £40,321 in 2021. Welwyn Hatfield's unemployment rate is 4.2% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Welwyn Hatfield is 81,319 or 65.6% of the total population.
In 2021, 95.8% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 8.1% are self-employed, and 91.9% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Welwyn Hatfield working-age (aged 16-64) population who have a degree or higher is 44.5%, which is above the 42.8% degree qualification rate for England.
Over 61% of the Welwyn Hatfield working-age population have at least 2 A-levels (or equivalent), and 8% have no qualifications.
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Main page: Welwyn Hatfield Salary
The average salary in Welwyn Hatfield as of 2021 is £40,321. Between 2020 and 2021, average salaries fell by £2,765. Compare average salaries by area.
Welwyn Hatfield's salary growth rate is -6.42% per year based on changes in average salary between 2020 and 2021, which is 6.42% lower than the average salary growth rate in Welwyn Hatfield over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Welwyn Hatfield 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 Welwyn Hatfield is Sales Occupations, with roles increasing 52% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Corporate Managers And Directors||10,100||15.6%||-11.4%|
|Elementary Administration & Service Occs||5,700||8.8%||-26.0%|
|Science, Research, Engineering And Technology Profs||5,200||8.0%||2.0%|
|Caring Personal Service Occupations||4,400||6.8%||4.8%|
There was a 9% 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 Welwyn Hatfield is Professional, Scientific & Technical Service (e.g. legal, accounting). Other major industries include Retail, Health, which represents over 10% of roles in Welwyn Hatfield.
Financial & Insurance companies make up 1% of the Welwyn Hatfield economy that's lower than the average for England as a whole (~3%).
4% of the total jobs in Welwyn Hatfield are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
|Professional, Scientific & Technical||16,000||18.0%|
|Business Administration & Support||7,000||7.9%|
The fastest-growing industry in Welwyn Hatfield is Transport & Storage, with jobs in the sector increasing 29% between 2019 and 2020 from 3,500 to 4,500. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Welwyn Hatfield between 2019 and 2020 was Information & communication, which saw an 50% decrease in roles, going from 7,000 to 3,500. 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 Welwyn Hatfield, the number of roles in this sector has fallen by 50% over the past year, below the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 35 large businesses in Welwyn Hatfield, making up 0.7% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 75 medium-sized businesses based in Welwyn Hatfield, making up 1.5% 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 395 small businesses based in Welwyn Hatfield, making up 7.7% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Welwyn Hatfield's unemployment rate is 4.2% 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 Looking After Family, representing 49.3% of the unemployed population.
Secondary classifications include groups: 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