Economy
Historically, the town relied on shipbuilding, sugar refining and wool manufacturing for employment, but none of these industries are today part of Greenock's economy. More recently the town relied heavily on electronics manufacture. However this has given way mostly to call centre business, insurance, banking and shipping export.
The Fleming and Reid merino wool mill employed 500 people - mostly women and produced wool garments spun and woven at the mill. This mill was at the corner of Drumfrochar Road and Mill Road.
As of October 2012 Greenock has an unemployment rate of 5.3%, above the Scottish average of 3.9% (figure is for the Scottish parliamentary constituency and includes Gourock, Inverkip and Wemyss Bay).
Read more about this topic: Greenock
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“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)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)