Economy and labour market

"Economies of scale"

Here are a few facts regarding the local economy and labour market:

• 50,700 people are currently in employment which is 67.3%
• Average gross weekly wage is £540.60 per week. The national average is £612.80
• More than 50% of the population have achieved NVQ3 or above
• Manufacturing accounts for 12.5% of employment - the national average is 7.9%
• Tourism related employment relates to 12.5% - the national average is 7.2%
• Unemployment figure stands at 5.4% - slightly higher than the national average of 4.8%

* Figures correct as of January 2022 (Nomis report)