The council has an interest in the economic wellbeing of Barnet residents and needs to know the local economy's main features and strengths.
The latest labour market data is available for both the borough and its wards on the government's NOMIS website.
The Barnet economy is characterised by:
- a local economy made up mainly of small and medium-sized businesses;
- lower than average rates of unemployment for London and a higher than average rate of VAT-registered businesses (though one that has been reducing to close to the London average over a number of years);
- residents with better than average qualifications earning higher than average wages and salaries - many in jobs in Westminster and the City;
- a workforce that earns a little below the average for London;
- comparatively expensive accommodation relative to the earnings of its residents.