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:
“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.”
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