Introduction and summary
Key labour market and economic indicators.
The Swansea Economic Profile provides a statistical overview of the local labour market and economy, bringing together recent published data from official national sources. It includes the key data sets available at local authority level and suggests how Swansea compares with Wales and the UK or GB. However, the indicators included will reflect different dates and time periods.
This information, which is updated as new data becomes available, aims to present an overall picture of the structure and performance of the local economy using the latest data available. The report also outlines trends as appropriate, generally over one year but also the longer-term.
Table 1 (Word doc) [28KB] provides an overall summary of the key indicators used in the profile, namely the most recent values for Swansea, Wales and UK or GB; the values indexed against a national average (where applicable); and annual percentage change. More detail is in the individual sections.
| Indicator | Area | Latest value | Index (UK/GB=100) | annual % change |
|---|---|---|---|---|
Economic Activity Rate (working age, period to Mar-24) | Swansea Wales UK | 76.3% 76.2% 78.5% | 97 97 100 | -4.1% +1.4% +0.7% |
Employment Rate (working age, period to Mar-24) | Swansea Wales UK | 72.7% 74.1% 75.7% | 97 97 100 | -3.3% +1.2% +0.4% |
Employment (workplace estimates, 2022) | Swansea Wales GB | 110,000 1,345,000 31,919,000 | n/a n/a n/a | +1.9% +0.8% +2.0% |
Unemployment Rate (modelled est, period to Mar-24) | Swansea Wales UK | 3.6% 3.5% 3.8% | 95 92 100 | -8.3% +8.1% +6.6% |
Business stocks (active businesses, 2022) | Swansea Wales UK | 7,395 104,520 2,924,685 | n/a n/a n/a | -4.4% -1.2% -0.5% |
GVA per head (2022) (Gross Value Added) | Swansea Wales UK | £23,929 £23,804 £32,996 | 73 72 100 | +3.5% +8.6% +8.8% |
GDHI per head (2021) (Gross Disposable Household Income) | Swansea Wales UK | £17,772 £18,038 £21,679 | 82 83 100 | +2.8% +2.8% +3.6% |
Earnings (full-time gross weekly, 2023) | Swansea Wales UK | £631.20 £636.10 £681.70 | 93 93 100 | +6.1% +5.3% +6.2% |
House prices (average sale price, May-24) | Swansea Wales UK | £202,116 £216,002 £285,201 | 71 76 100 | +5.0% +2.4% +2.2% |
Housing transactions (quarter ending Feb-24) | Swansea Wales UK | 465 6,132 137,326 | n/a n/a n/a | -19.4% -28.9% -27.1% |
Notes:
i. The 'annual % change' figures for Economic Activity Rate, Employment Rate and Unemployment Rate refer to changes over the period in the numbers of economically active, employed and unemployed, rather than changes in the rates.
ii. As the local and national workplace employment, business stocks and housing transactions figures are not directly comparable, index values (where UK=100) are not provided.
iii. Recent trends in some of the indicators have been affected by the COVID-19 pandemic, as highlighted in the relevant footnotes.
Choose Language
Share this page
