Stretford - Economy

Economy

Until the end of the 19th century Stretford was a largely agricultural village. The development of the Trafford Park industrial estate in the north of the town, beginning in the late 19th century, had a significant effect on Stretford's subsequent development. At its peak, in 1945, the park employed an estimated 75,000 workers; housing and other amenities had to be constructed on what had previously been agricultural land. Trafford Park is still a very significant source of employment, containing an estimated 1,400 companies and employing about 44,000 people. As at the 2001 UK census, 0.3% of Stretford's working population was employed in agriculture.

The main shopping centre is Stretford Mall in the commercial centre of Stretford, previously known as Stretford Arndale. It was opened in 1969 and changed its name in 2003. Stretford Mall was built on the site of the original shopping centre in the former King Street. The Trafford Centre, a large shopping and leisure complex opened in September 1998, lies to the northwest of Stretford. Frequent shuttle buses run between Stretford Metrolink tram station and The Trafford Centre, about 2.5 miles (4.0 km) away.

According to the 2001 UK census, the industry of employment of residents in Stretford was 18% retail and wholesale, 14% property and business services, 13% manufacturing, 12% health and social work, 8% education, 8% transport and communications, 6% construction, 5% finance, 5% public administration and defence, 5% hotels and restaurants, 0.7% energy and water supply, 0.3% agriculture and 5% other. This was roughly in line with national figures, except for the town's relatively low percentage of agricultural workers. Many people commute into Stretford; as of the 2001 census, there were 23,595 jobs within the town, compared with the town's 13,399 employed residents.

The census recorded the economic activity of residents aged 16–74 as 38.8% in full-time employment, 11.1% in part-time employment, 5.6% self-employed, 4.5% unemployed, 2.9% students with jobs, 5.5% students without jobs, 12.2% retired, 7.0% looking after home or family, 7.7% permanently sick or disabled, and 4.7% economically inactive for other reasons. The 4.5% unemployment rate in Stretford was high compared with the national rate of 3.3%. According to the Office for National Statistics estimates, between April 2001 and March 2002 the average gross income of households in Stretford was £415 per week (£21,664 per year).