Economy
As of the 2001 UK census, the economic activity of residents aged 16–74 was 33.8% in full-time employment, 11.8% in part-time employment, 8.0% self-employed, 5.5% unemployed, 2.2% students with jobs, 3.9% students without jobs, 15.5% retired, 8.3% looking after home or family, 7.9% permanently sick or disabled and 3.6% economically inactive for other reasons. The rate of unemployment in the town was considerably higher than the national rate of 3.4%.
The industry of employment of residents was 17% retail, 16% health & social work, 13% manufacturing, 9% construction, 8% real estate, 8% education, 7% transport & communications, 5% public administration, 6% hotels & restaurants, 2% finance, 1% agriculture and 6% other community, social or personal services. Compared to national figures, the town had a relatively high number of workers in the construction, hotels & restaurants and health & social care industries and a relatively low number in real estate and finance.
In more recent years, as tourists have travelled further afield, Margate's unemployment rate has become higher than much of the rest of south eastern England.
Margate railway station, constructed in 1926 to designs by Edwin Maxwell Fry, serves the town. Train services are provided by Southeastern Trains.
Read more about this topic: Margate
Famous quotes containing the word economy:
“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)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“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)