Economy
Salford Docks (also called Manchester Docks) were opened by Queen Victoria in 1894, providing docks in Manchester and Salford for the Manchester Ship Canal which linked Manchester to the sea. During the 1970s, the docks fell into decline as they proved too small for new, larger ships, and when they were abandoned in 1982 over 3,000 people lost their jobs. Salford City Council purchased the docks in 1984 and since then they underwent regeneration as a centre of tourism in Salford, which included the construction of the Lowry Centre. More than 10,000 people are employed in the Quays in jobs such as retail, construction, and e-commerce. In 2007, it was confirmed that the BBC would be moving five of its departments to a new development on Pier 9 of Salford Quays, to be called MediaCityUK. The move, which is expected to be completed by 2011, will create up to 15,500 jobs and add £1bn to the regional economy over 5 years.
| City of Salford Compared | |||
|---|---|---|---|
| 2001 UK Census | City of Salford | North West England | England |
| Population of working age | 155,376 | 4,839,669 | 35,532,091 |
| Full-time employment | 39.3% | 38.8% | 40.8% |
| Part-time employment | 10.6% | 11.9% | 11.8% |
| Self employed | 5.4% | 7.1% | 8.3% |
| Unemployed | 3.8% | 3.6% | 3.3% |
| Retired | 13.5% | 14.3% | 13.5% |
Finance and professional services, tourism and culture, and computer and internet based services have been identified as growth industries in Greater Manchester and are concentrated in Manchester and Salford. Average house prices in the City of Salford are sixth out of all the metropolitan boroughs in Greater Manchester, 7.6% lower than the average for the county. There are, however, areas of considerable affluence, within the city, such as Broughton Park, parts of Kersal, Ellesmere Park, Worsley, parts of Swinton and Pendlebury and the ultra-modern Salford Quays.
As of the 2001 UK census, Salford had 155,376 residents aged 16 to 74. 3.0% of these people were students with jobs, 5.9% looking after home or family, 9.5% permanently sick or disabled and 3.9% economically inactive for other reasons. The City of Salford has a high rate of people who are permanently sick and disabled, nearly double the national average of 5.3%.
In 2001, of 89,920 residents of the City of Salford in employment, the industry of employment was 18.7% retail and wholesale, 14.4% manufacturing, 12.7% property and business services, 11.9% health and social work, 7.7% transport and communications, 7.6% education, 6.8% construction, 5.1% hotels and restaurants, 4.7% public administration and defence, 4.4% finance, 0.7% energy and water supply, 0.4% agriculture, and 4.9% other. This was roughly in line with national figures, except for the proportion of jobs in agriculture which is less than half the national average, reflecting the city's suburban nature and its proximity to the centre of Manchester.
JCDecaux UK has its Manchester office in the Metroplex Business Park in Salford.
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Famous quotes containing the word economy:
“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)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“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)