The Gross Domestic Product (GDP) in Wolverhampton was worth an estimated £5.9 billion in 2019, according to figures published by the ONS. Wolverhampton's GDP growth between 2018 and 2019 was 2.6% per year. Compare GDP by area.
The Health industry is the largest in Wolverhampton based on the number of jobs, accounting for 19.0% of roles in the area.
2019 ONS figures suggest that there are 119,000 jobs in Wolverhampton, which has a working-age (aged 16-65) population of 163,541. The 2019 job density in Wolverhampton is 0.73, meaning there are 0.73 jobs per member of the Wolverhampton working-age population.
Wolverhampton had a mean average salary for full-time employees of £30,712 in 2021. Wolverhampton's unemployment rate is 5.7% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Wolverhampton is 163,541 or 61.9% of the total population.
In 2021, 94.3% of the labour market was recorded as employed, below the 94.8% average rate for England. Of those employed, 9.8% are self-employed, and 90.2% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Wolverhampton working-age (aged 16-64) population who have a degree or higher is 31.6%, which is below the 42.8% degree qualification rate for England.
Over 48% of the Wolverhampton working-age population have at least 2 A-levels (or equivalent), and 12% have no qualifications.
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Main page: Wolverhampton Salary
The average salary in Wolverhampton as of 2021 is £30,712. Between 2020 and 2021, average salaries fell by £541. Compare average salaries by area.
Wolverhampton's salary growth rate is -1.73% per year based on changes in average salary between 2020 and 2021, which is 1.73% lower than the average salary growth rate in Wolverhampton over the past 9 years.
Business data published by the ONS in 2020 show the most common job group in Wolverhampton is Caring Personal Service Occupations, 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 Wolverhampton is Leisure, Travel And Related Personal Service Occs, with roles increasing 146% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Caring Personal Service Occupations||13,100||11.0%||13.9%|
|Business & Public Service Assoc. Professionals||9,100||7.7%||71.7%|
|Elementary Administration & Service Occs||9,000||7.6%||-26.2%|
|Transport & Mobile Machine Drivers/operatives||8,300||7.0%||48.2%|
There was a 0% 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 Wolverhampton is Health. Other major industries include Manufacturing, Education, which represents over 10% of roles in Wolverhampton.
Financial & Insurance companies make up 3% of the Wolverhampton economy that's higher than the average for England as a whole (~3%).
2% of the total jobs in Wolverhampton are in Information and Communication, one of the key sectors for the future, below the 5% of jobs in England as a whole.
The fastest-growing industry in Wolverhampton is Information & Communication, with jobs in the sector increasing 14% between 2019 and 2020 from 1,750 to 2,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Wolverhampton between 2019 and 2020 was Mining, quarrying & utilities, which saw an 29% decrease in roles, going from 1,750 to 1,250. 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 Wolverhampton, the number of roles in this sector has risen by 14% over the past year, above the 1% annual increase seen in England.
2021 UK Business Count data published by the ONS show there are 40 large businesses in Wolverhampton, 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 Wolverhampton, making up 2.0% 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 Wolverhampton, making up 9.5% of total businesses - in England, 8.3% of businesses are small. A small business is defined as having between 10 and 49 employees.
Wolverhampton's unemployment rate is 5.7% that's 1% 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 Looking After Family, representing 25.8% of the unemployed population.
Secondary classifications include groups: student, temporary sick, long-term sick, 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