Economy
Yukon's historical major industry has been mining (lead, zinc, silver, gold, asbestos and copper). The government acquired the land from the Hudson's Bay Company in 1870 and split it from the Northwest Territories in 1898 to fill the need for local government created by the population influx of the gold rush.
Thousands of these prospectors flooded the territory, creating a colourful period recorded by authors such as Robert W. Service and Jack London. The memory of this period and the early days of the Royal Canadian Mounted Police, as well as the territory's scenic wonders and outdoor recreation opportunities, makes tourism the second most important industry.
Manufacturing, including furniture, clothing, and handicrafts, follows in importance, along with hydroelectricity. The traditional industries of trapping and fishing have declined. Today, the government sector is by far the biggest employer in the territory, directly employing approximately 5,000 out of a labour force of 12,500.
Read more about this topic: Yukon
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)