Economy
In the year to March 2009, Auckland City had 353,000 jobs, of which 26.3% was held by property and business services, as well as 65,655 businesses, making up 13.1% of New Zealand's businesses and 16.2% of New Zealand's jobs. Over 2009 to the month of March, Auckland City's unemployment rate increased to 5.6%, compared to the overall New Zealand unemployment rate of 4.5%. In addition the city's economic output declined by 2.4%. Gareth Stiven, the economic manager of Auckland City, stated that this was because the city's economy was heavily involved with service industries, such as banking and insurance, which were affected by financial crises. However, over the last five years of its existence, Auckland's economic growth averaged 1.4% each year, higher than the average of the region and the nation.
As of 2003 three of the ten largest companies in New Zealand (Air New Zealand, Fletcher Building, and Foodstuffs) were headquartered in Auckland City. Many large corporations were housed within Auckland CBD, the central part of Auckland City.
Air New Zealand has its worldwide headquarters, called "The Hub", off Beaumont and Fanshawe Streets in Western Reclamation, Auckland City; the airline moved there from the Auckland CBD in 2006. In September 2003 Air New Zealand was the only one of the very largest corporations in New Zealand to have its headquarters within the Auckland CBD.
Read more about this topic: Auckland City
Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)