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| The City Fringe |
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The City Fringe is the name for the area to the north and east of the City of London, covering parts of the London boroughs of Camden, Islington, Hackney and Tower Hamlets. |
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Business
The City Fringe core area is home to almost 22,000 businesses representing over 275,000 estimated jobs. The vast majority of these are in sectors vital to the continued health and growth of the London economy. These Include:
- Financial and professional services – the biggest industry sector
- Creative industries – the second largest and fastest growing sector
- Service sector – including hospitality and catering
- Public sector – including health and social care
- Construction industry
Key to the City Fringe’s economic success is its broad business base and the diversity of its resident and working population.
Residential
The City Fringe is home to 142,342 residents, with 46% from ethnic minority backgrounds – a higher proportion than in London as a whole.
Although the unemployment rate in the City Fringe has fallen from 13.6% in 2002 to 8.4% in 2005, it remains higher than the inner London rate of 6%, and in parts of the City Fringe rates are much higher, peaking at 14.3% in Spitalfields and Banglatown.
All of the four City Fringe boroughs are in the top 5% most deprived in the country according to the Government’s index of deprivation: Tower Hamlets, Hackney and Islington are ranked fourth, fifth and sixth most deprived in the country in terms of their average deprivation score.
High unemployment and low economic activity persist despite the fact that the number of jobs in the City Fringe is four per economically active person. |
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