South Shields - Economy

Economy

The last shipbuilder, John Readhead & Sons, closed in 1984 and the last pit, Westoe Colliery, in 1993. Today, the town relies largely on service industries, whilst many residents commute to work in nearby Newcastle, Gateshead, North Tyneside and Sunderland.

Despite a skilled local workforce, for many years South Tyneside had the highest unemployment rate in mainland Britain, although between December 2002 and December 2008 unemployment in South Shields fell by 17.8%, and that of South Tyneside by 17.7%, the best performance in the North East region over that time period.

In January 2011, the Guardian reported the unemployment rate at 6.5%. In October 2011 the Guardian reported the unemployment rate at 7.5%

The Port of Tyne is one of the UK's most important and is further developing its freight and passenger activities. In 2007, it imported two million tonnes of coal. Manufacturing and ship repair/engineering are other significant sectors.

South Shields benefits from significant public and private sector investment. More recently this has included primarily the town centre, riverside and foreshore areas, given the decline of once-traditional heavy industries with the town's growing importance as a major commercial centre and tourist destination.

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