economic Flashcards
employment
57,880 out of 94,384 females (about 61.3%) are economically active:
out of the 47,352 that are in employment, 9,501 are employed in part-time work and 32,945 work full-time.
About 5.2% of those in employment are self-employed
5,566 are unemployed
79,353 out of 102,168 males (about 77.7%) are economically active:
Out of the 65,867 that are in employment, 9,351 are employed in part-time work and 45,086 work full-time.
About 11.2% of those in employment are self-employed
7,693 are unemployed
Those that are economically inactive such as those that are retired, students, people looking after home or family and the long-term sick or disabled make up 38.7% of the female population while it is 22.3% for males
employment
57,880 out of 94,384 females (about 61.3%) are economically active:
out of the 47,352 that are in employment, 9,501 are employed in part-time work and 32,945 work full-time.
About 5.2% of those in employment are self-employed
5,566 are unemployed
79,353 out of 102,168 males (about 77.7%) are economically active:
Out of the 65,867 that are in employment, 9,351 are employed in part-time work and 45,086 work full-time.
About 11.2% of those in employment are self-employed
7,693 are unemployed
Those that are economically inactive such as those that are retired, students, people looking after home or family and the long-term sick or disabled make up 38.7% of the female population while it is 22.3% for males
employment 2
There are 233,000 jobs in Tower Hamlets, 60,000 jobs more than the borough has residents
Tower Hamlets job density (the ratio of residents to jobs in the borough)is the fifth highest in London
September 2012 show that there were 900 unfilled vacancies in the borough
28.7% of Tower Hamlets residents are economically inactive. 36% of this group are looking after their home or their family. 79% of this group do not want a job. All three of these figures are higher than the London averages.
businesses
Back in the 1500s it was a path into the open countryside outside the City of London and earned its name from the brick kilns first brought here by early Flemish settlers. Now the street is a major tourist destination known for shopping, eating, culture and street art. It is the hub of London’s Bangladeshi community and known as the ‘curry mile’ because of its many restaurants.
Helping smaller businesses: Helping small businesses in Brick Lane is an important issue for many in the borough, as opposition continues to mount against plans to build a shopping mall on the site of the Old Truman Brewery. Critics of the plans say the mall will negatively impact the local businesses that have been open on Brick Lane for generations, as well as altering the street’s iconic character.
Type of business eg.restaurants: Along with its heritage, Brick Lane is known for its food. The famous selection of curry restaurants and 24 hour beigel shops are London landmarks. In line with the vibrancy of the area, you can find cuisine from all over the world. Turkish, Japanese and Argentinian to list a few.
income
Median household income is £50,633 in Brick Lane
Financial situation:
57% kids in Tower Hamlets live in poverty
Around 17% of households in tower hamlets have an annual income of less than £15,000 while 48% have an annual income of less that £30,000
17% have an annual income greater than £60,000
In 2013, the most common annual income was £17,500
The single largest household income group is the group earning 15-20K representing around 11.2% of all households in Tower Hamlets.
house prices
House prices are expensive !!!!!
Most of the sales in Tower Hamlets over the past year were flats which on average sold for £550,321. Terraced properties had an average sold price of £906,751 and semi-detached properties averaged at £833,813.
Tower Hamlets, with an overall average price of £591,247 was more expensive than nearby Newham (£448,298), Barking And Dagenham (£332,763) and Havering (£437,526). The most expensive area within Tower Hamlets was Spitalfields (£1,201,553) and the cheapest was Bromley By Bow (£390,204).
In the past year house prices in Tower Hamlets were 5% up on the year before and 7% up on 2018 when they averaged at £550,801
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