The Gross Domestic Product (GDP) in Worcestershire was worth an estimated £17 billion in 2019, according to figures published by the ONS. Worcestershire's GDP growth between 2018 and 2019 was 2.7% per year. Compare GDP by area.
The Health industry is the largest in Worcestershire based on the number of jobs, accounting for 12.6% of roles in the area.
2019 ONS figures suggest that there are 304,000 jobs in Worcestershire, which has a working-age (aged 16-65) population of 354,064. The 2019 job density in Worcestershire is 0.86, meaning there are 0.86 jobs per member of the Worcestershire working-age population.
Worcestershire had a mean average salary for full-time employees of £32,498 in 2021. Worcestershire's unemployment rate is 3.6% as of 2021. Compare unemployment rate by area.
The 2019 labour force or working-age population in Worcestershire is 354,064 or 59.2% of the total population.
In 2021, 96.4% of the labour market was recorded as employed, above the 94.8% average rate for England. Of those employed, 11.8% are self-employed, and 88.2% are employees.
The Annual Population Survey for 2020 published by the ONS reports the percentage of the Worcestershire working-age (aged 16-64) population who have a degree or higher is 38.1%, which is below the 42.8% degree qualification rate for England.
Over 59% of the Worcestershire working-age population have at least 2 A-levels (or equivalent), and 6% have no qualifications.
Main page: Worcestershire Salary
The average salary in Worcestershire as of 2021 is £32,498. Between 2020 and 2021, average salaries grew by £577. Compare average salaries by area.
Worcestershire's salary growth rate is 1.81% per year based on changes in average salary between 2020 and 2021, which is 1.81% higher than the average salary growth rate in Worcestershire over the past 9 years.
In Worcestershire, the highest average wages are found in Redditch where the average salary is £33,465 and the lowest average wages are found in Wyre Forest where the average salary is £28,553. The difference in average salary between the two areas is £4,912 - the average person in Redditch earns 17.2% more than the average person in Wyre Forest.
Business data published by the ONS in 2020 show the most common job group in Worcestershire is Elementary Administration & Service Occs, accounting for 9% 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 Worcestershire is Process, Plant And Machines Operatives, with roles increasing 128% between July 2020 and July 2021. In England, the fastest-growing type of role is Corporate Managers And Directors.
|Elementary Administration & Service Occs||26,300||9.0%||17.9%|
|Caring Personal Service Occupations||21,800||7.5%||-2.7%|
|Corporate Managers And Directors||21,000||7.2%||-15.3%|
|Business & Public Service Assoc. Professionals||20,500||7.0%||28.1%|
There was a 1% 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 Worcestershire is Health. Other major industries include Manufacturing, Business Administration & Support, which represents over 10% of roles in Worcestershire.
Financial & Insurance companies make up 1% of the Worcestershire economy that's lower than the average for England as a whole (~3%).
3% of the total jobs in Worcestershire 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||31,000||11.5%|
The fastest-growing industry in Worcestershire is Information & Communication, with jobs in the sector increasing 14% between 2019 and 2020 from 7,000 to 8,000. In England more broadly the fastest-growing industry is Healthcare.
The industry with the biggest decline in Worcestershire between 2019 and 2020 was Accommodation & food services, which saw an 26% decrease in roles, going from 23,000 to 17,000. 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 Worcestershire, 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 115 large businesses in Worcestershire, making up 0.4% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 410 medium-sized businesses based in Worcestershire, making up 1.4% 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 2,240 small businesses based in Worcestershire, 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.
Worcestershire's unemployment rate is 3.6% that's 2% 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 Student, representing 31.0% 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