The Gross Domestic Product (GDP) in West Suffolk was worth an estimated £6.3 billion in 2019, according to figures published by the ONS. West Suffolk's GDP growth between 2018 and 2019 was 3.8% per year. Compare GDP by area.
The Business administration & support industry is the largest in West Suffolk based on the number of jobs, accounting for 21.9% of roles in the area.
2019 ONS figures suggest that there are 111,000 jobs in West Suffolk, which has a working-age (aged 16-65) population of 105,054. The 2019 job density in West Suffolk is 1.06, meaning there are 1.06 jobs per member of the West Suffolk working-age population.
West Suffolk had a mean average salary for full-time employees of £33,827 in 2021. West Suffolk's unemployment rate is 5.6% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in West Suffolk is 105,054 or 59.3% of the total population.
In 2021, 94.4% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 14.1% are self-employed, and 85.9% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the West Suffolk working-age (aged 16-64) population who have a degree or higher is 33.3%, which is below the 42.8% degree qualification rate for England.
Over 59% of the West Suffolk working-age population have at least 2 A-levels (or equivalent), and 5% have no qualifications.
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Main page: West Suffolk Salary
The average salary in West Suffolk as of 2021 is £33,827. Between 2020 and 2021, average salaries grew by £947. Compare average salaries by area.
West Suffolk's salary growth rate is 2.88% per year based on changes in average salary between 2020 and 2021, which is 2.88% higher than the average salary growth rate in West Suffolk over the past 3 years.
Business data published by the ONS in 2020 show the most common job group in West Suffolk is Elementary Administration & Service Occs, 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 West Suffolk is Administrative Occupations, with roles increasing 89% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||10,800||13.2%||14.9%|
|Business & Public Service Assoc. Professionals||7,600||9.3%||8.6%|
|Corporate Managers And Directors||7,400||9.0%||-33.3%|
|Skilled Metal, Electrical And Electronic Trades||6,600||8.0%||-1.5%|
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 West Suffolk is Business administration & support. Other major industries include Health, which represents over 10% of roles in West Suffolk.
Financial & Insurance companies make up 2% of the West Suffolk economy that's lower than the average for England as a whole (~3%).
1% of the total jobs in West Suffolk 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||22,000||21.9%|
|Accommodation & Food Services||7,000||7.0%|
The fastest-growing industry in West Suffolk is Retail, 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 West Suffolk between 2019 and 2020 was Arts, entertainment & recreation, which saw an 20% decrease in roles, going from 5,000 to 4,000. 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 West Suffolk, 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 25 large businesses in West Suffolk, making up 0.3% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 130 medium-sized businesses based in West Suffolk, making up 1.8% 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 720 small businesses based in West Suffolk, making up 9.8% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
West Suffolk's unemployment rate is 5.6% 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 Long-term Sick, representing 36.1% 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