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Liverpool's economy ranks among the most prosperous in England.
The Gross Domestic Product (GDP) in Liverpool was worth an estimated £16 billion in 2021, according to figures published by the ONS. Liverpool's GDP growth between 2020 and 2021 was 8.1% per year. Compare GDP by area.
The Human health and social work activities industry is the largest in Liverpool based on the number of jobs, accounting for 18.6% of roles in the area.
ONS figures for 2021 suggest that there are 295,000 jobs in Liverpool, which has a working-age (aged 16-65) population of 336,269. The 2021 job density in Liverpool is 0.88, meaning there are 0.88 jobs per member of the Liverpool working-age population.
Liverpool had a median average salary for full-time employees of £34,515 in 2023. Liverpool's unemployment rate is 6.2% as of 2023. Compare unemployment rate by area.
The 2022 labour force or working-age population in Liverpool is 336,269 or 67.7% of the total population.
In 2022, 93.8% of the labour market was recorded as employed, below the 96.1% average rate for England. Of those employed, 9.9% are self-employed, and 90.1% are employees.
The Annual Population Survey for 2022 published by the ONS reports the percentage of the Liverpool working-age (aged 16-64) population who have a degree or higher is 44.1%, which is above the 43.2% degree qualification rate for England.
Over 63% of the Liverpool working-age population have at least 2 A-levels (or equivalent), and 8% have no qualifications.
Qualifications classifications
Main page: Liverpool Salary
The average salary in Liverpool as of 2023 is £34,515. Between 2022 and 2023, average salaries grew by £2,522. Compare average salaries by area.
Liverpool's salary growth rate is 7.88% per year based on changes in average salary between 2022 and 2023, which is 5.18% higher than the average salary growth rate in Liverpool over the past 10 years.
Business data published by the ONS for the year ending September 2023 show the most common job group in Liverpool is Science, Research, Engineering And Technology Profs, accounting for 11% of all roles in the area. In England as a whole, the largest job group is Business, Media And Public Service Professionals.
Occupation | Number | Percentage |
|---|---|---|
| Science, Research, Engineering And Technology Profs | 22,500 | 10.6% |
| Business, Media And Public Service Professionals | 21,300 | 10.0% |
| Administrative Occupations | 21,000 | 9.9% |
| Business & Public Service Assoc. Professionals | 17,800 | 8.4% |
| Teaching And Educational Professionals | 14,100 | 6.6% |
There was a 2% increase in roles between 2021 and 2022. In England as a whole, there was a 2% increase.
Based on the total number of jobs, the largest industry in Liverpool is Human health and social work activities. Other major industries include Wholesale And Retail Trade; Repair Of Motor Vehicles And Motorcycles, which represents over 10% of roles.
Financial & Insurance companies make up 3% of the Liverpool economy, and 3% of the roles across England.
4% of the total jobs in Liverpool are in Information and Communication. In England as a whole they make up 5% of total jobs.
Industry | Number | Percentage |
|---|---|---|
| Human Health And Social Work Activities | 51,000 | 18.6% |
| Wholesale And Retail Trade; Repair Of Motor Vehicles And Motorcycles | 33,000 | 12.0% |
| Accommodation And Food Service Activities | 26,000 | 9.5% |
| Education | 26,000 | 9.5% |
| Public Administration And Defence; Compulsory Social Security | 24,000 | 8.8% |
The fastest-growing industry in Liverpool is Water Supply; Sewerage, Waste Management And Remediation Activities, with jobs in the sector increasing 88% between 2021 and 2022 from 800 to 1,500. In England more broadly the fastest-growing industry is Water Supply; Sewerage, Waste Management And Remediation Activities.
The industry with the biggest decline in Liverpool between 2021 and 2022 was Financial and insurance activities, which saw an 30% decrease in roles, going from 10,000 to 7,000. In England more broadly the industry with the biggest year on year decline was Electricity, gas, steam and air conditioning supply, with roles decreasing by 17%.
In Liverpool, the number of roles in the Information and communication sector has risen by 22% over the past year, above the 5% annual increase seen in England.
Growth rates can be volatile for industries with a small sample size.
Liverpool Demographics
Liverpool Crime
Rental Market of Liverpool
2023 UK Business Count data published by the ONS show there are 85 large businesses in Liverpool, making up 0.6% of total businesses - in England, 0.4% of businesses are large. A large business is defined as having over 250 employees.
There are 295 medium-sized businesses based in Liverpool, making up 2.0% of total businesses - in England, 1.6% of businesses are medium-sized. A medium-sized business is defined as having between 50 and 249 employees.
There are 1,485 small businesses based in Liverpool, making up 10.2% of total businesses - in England, 8.8% of businesses are small. A small business is defined as having between 10 and 49 employees.
Liverpool's unemployment rate is 6.2% , that's 2% 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 Student, representing 37.1% of the unemployed population.
Secondary classifications include groups: looking after family, long-term sick, 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 27.3% 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 2024. Data sources: ONS Local statistics