Economy
As of the 2001 UK census, the economic activity of residents aged 16–74 was 33.8% in full-time employment, 11.8% in part-time employment, 8.0% self-employed, 5.5% unemployed, 2.2% students with jobs, 3.9% students without jobs, 15.5% retired, 8.3% looking after home or family, 7.9% permanently sick or disabled and 3.6% economically inactive for other reasons. The rate of unemployment in the town was considerably higher than the national rate of 3.4%.
The industry of employment of residents was 17% retail, 16% health & social work, 13% manufacturing, 9% construction, 8% real estate, 8% education, 7% transport & communications, 5% public administration, 6% hotels & restaurants, 2% finance, 1% agriculture and 6% other community, social or personal services. Compared to national figures, the town had a relatively high number of workers in the construction, hotels & restaurants and health & social care industries and a relatively low number in real estate and finance.
In more recent years, as tourists have travelled further afield, Margate's unemployment rate has become higher than much of the rest of south eastern England.
Margate railway station, constructed in 1926 to designs by Edwin Maxwell Fry, serves the town. Train services are provided by Southeastern Trains.
Read more about this topic: Margate
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)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)