Economics and Demographics
Economically the district was largely dependent on tourism, partly due to the decline in the economic significance of farming and also the decline and subsequent end of local lead and coal mining industry. In addition to tourism, some light industry did exist in the district, in the Church Stretton and Ludlow areas, and in Burford, near Tenbury Wells.
Some statistics for the local area suggest that wages are "low", but also that the rate of unemployment is below average.
Additionally, the local demographics show a large economic gap between affluent residents and poorer communities. Many of the affluent residents have moved into the area from other places, such as South East England on their retirement. This continues an older trend whose root was initially in the imbalance of wealth associated with the farming economy previously prevalent in the area.
Read more about this topic: South Shropshire
Famous quotes containing the words economics and and/or economics:
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—James Thurber (1894–1961)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)