Economy and Industry
The regional economy was traditionally based on industries such as coal mining in the Leen Valley and manufacturing. Since the invention of the knitting frame by local William Lee, the county, in particular Nottingham, became synonymous with the lace industry.
In 1998 Nottinghamshire had a GDP per-capita of £12,000, and a total GDP of £12,023 million. This is compared to a per-capita GDP of £11,848 for the East Midlands, £12,845 for England and £12,548 for the United Kingdom. Nottingham has a GDP per-capita of £17,373, North Nottinghamshire £10,176, and South Nottinghamshire £8,448. In October 2005 the United Kingdom had 4.7% unemployment, the East Midlands 4.4%, and the Nottingham commuter belt area 2.4%.
Read more about this topic: Nottinghamshire
Famous quotes containing the words economy and/or industry:
“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)
“For almost seventy years the life insurance industry has been a smug sacred cow feeding the public a steady line of sacred bull.”
—Ralph Nader (b. 1934)