Economy
Originally based on the fishing and engineering industries, the economy of Lowestoft has declined over the years. Although the tourism sector has grown, the major employers in the town are in the wholesale and retail sector, making up 18% of employment. Service industries, including health and social care and education are significant employers, whilst manufacturing employs around 10% of the workforce. Employment in the town can vary seasonally due to the importance of tourism to the economy. In early 2011 around 10% of the working population of the town claimed Jobseekers Allowance.
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Famous quotes containing the word economy:
“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)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)