Economy
North Tyneside lies in the coalfield that covers the South-East of the historic county of Northumberland. It has traditionally been a centre of heavy industry along with the rest of Tyneside, with for example the Swan Hunter shipyard in Wallsend, and export of coal. Today most of the heavy industry has gone, leaving high unemployment in some areas (over the borough, 3.2% compared to 2.7% for the UK). The borough is the 69th most deprived in England, out of 354. However some parts function as wealthy dormitory suburbs of Newcastle, such as Tynemouth. Recent growth has come in the A19 corridor with new industrial estates and retail parks.
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Famous quotes containing the word economy:
“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)
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