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: Government Of Yukon
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“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)