Economy
Until the development of tourism, fishing was Hastings' major industry. The beach-launched fishing fleet, based at the Stade remains Europe's largest and has recently won accreditation for its sustainable methods. The fleet has been based on the same beach, below the cliffs at Hastings, for at least 400, possibly 600, years. Its longevity is attributed to the prolific fishing ground of Rye Bay nearby. Hastings fishing vessels are registered at Rye, and thus bear the letters "RX" (Rye,SusseX).
There are now various industrial estates that lie around the town, mostly on the outskirts, which include engineering, catering, motoring and construction; however, most of the jobs within the Borough are concentrated on health, public services, retail and education. 85% of the firms (in 2005) employed fewer than 10 people; as a consequence the unemployment rate was 3.3% (cf. East Sussex 1.7%). However, qualification levels are similar to the national average: 8.2% of the working-age population have no qualifications while 28% hold degree-level qualifications or higher, compared with 11% and 31% respectively across England.
Read more about this topic: Hastings
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)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)