Economy
In the 16th century, at the bottom of Lôn Felin stood the town's mill, powered by water from a millpond near to the present level crossing and fed from the Afon Cwrt.
The herring industry was important by the 19th century, with horsedrawn carts converging on Abermarchnad to transport the catch to neighbouring villages. There was also a coal yard and other storehouses by the quay, where the Afon Cwrt enters the sea. Opposite stood a lime kiln, with lime produced both for local use and export, limestone for the kiln being unloaded from ships on the quay.
At the 2001 Census 54.18 per cent of the population were in employment, while the unemployment rate stood at 3.81 per cent. The proportion retired accounted for 22.99 per cent of the inhabitants. Of those employed, 23.04 per cent worked in the wholesale and retail trades and 19.86 per cent in hotels and restaurants.
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)