We produce a monthly economic profile containing detailed information about the economy and jobs in Telford and Wrekin. If you need more information about the Borough's economy or want to contact someone about business support, please visit the Business section of our website.
- The borough has a diverse manufacturing sector, a burgeoning tourism sector and research and development facilities.
- It has a strong focus on manufacturing - important sectors of the economy include manufacturing, polymers, advanced engineering, food and drink, construction and retail.
- There were an estimated 82,200 people in employment for the year up to June 2016, an increase of 4,700 people, equivalent to +6% rise from the previous year.
- The largest proportion of the borough's workforce are employed in Professional Occupations (16.2%), with an estimated 13,300 employees.
- The second largest occupation group is Associate professional & technical occupations with an estimated 12,500 employees (15.2%).
- The 'Knowledge Economy' sector (SOC2010 groups 1-3) makes up 40.1% of the workforce, with an estimated 33,000 employees (West Midlands 40.2%, England 45.4%).
- The largest increase in employment from the year before was seen for those employed in Associate professional occupations, up by +2,400 persons from 10,100 to 12,500.
- Employment within Process, Plant and machine operatives also saw an increase of +1,400 from 5,700 to 7,100 and employment increased by +1,200 for Administrative & Secretarial Occupations, from 8,000 to 9,200.
- The occupation with the largest fall in the number of people employed was seen in Skilled Trades Occupations with a reduction of -1,500 persons, from 9,200 to 7,700.
- Manufacturing continues to employ more people in the Borough than any other industry, with approximately 13,000 jobs (16.0% of employment); this has fallen by 1000 jobs since 2014.
- Manufacturing in the Borough remains above the regional rate of 12.1%, and the National rate of 8.1%.
- Around 28% of all employees are in part-time work, with 72% in full-time work.
- There were 6,070 business 'units' in VAT and/or PAYE based enterprises in the Borough in 2016, an increase of 180 from the previous year. Professional, Scientific and Technical, Retail, Construction, Business administration and support services and Manufacturing industries account for around 48% of these 'units'.
- Business ‘births’ in the Borough in 2014 (625) exceeded business ‘deaths’ (465) for a fourth consecutive year, following two years (2009 and 2010) when deaths exceeded deaths.
- The Borough's provisional GVA figure for 2014 was £3.68bn, an increase of +3.5% from the previous year. This was a bigger increase than seen by the West Midlands (+3.0%) but a smaller increase than recorded for England (+4.6%)
- For the period ending December 2015, 26.4% of the boroughs economically active population had an NVQ at level 4 or above, below the regional rate of 31.2% and the national rate of 36.8%.
- The borough's modelled rate of unemployment for the year up to June 2016 was estimated at 4.9% of the Boroughs working age population (16 - 64 year olds), a total of 4,300 people. This places us below the regional rate of 5.9% and the national rate of 5.1%.
- Rates of unemployment at local, regional and national level are lower than those reported one year previously (T&W down from 5.4% to 4.9%, West Midlands down from 6.2% to 5.9% and England down from 5.6% to 5.1%).
- Youth Unemployment in Telford and Wrekin was estimated at 13.4% for the year ending June 2016 with an estimated 1,900 16-24 year olds unemployed.
- Rates of youth unemployment are below the national rate of 14.1% and the regional rate of 16.0%.
More information is contained within our monthly economic profile.