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Economy of Saint Helena Island

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slightly from 1,163 in 2002 to 1,142 in 2006. Public sector employment is characterised by high turnover rates, mainly due to emigration. St Helena’s private sector employs approximately 45% of the employed labour force and is largely dominated by small and micro businesses with 218 private businesses employing 886 in 2004.

Household survey results suggest the % of households who spend less than £20 per week on a per capita basis fell from 27% to 8% between 2000 and 2004, implying a decline in income poverty. Nevertheless, 22% of the population claimed social security benefit in 2006/7, although most of these are aged over 60 – this sector represents 20% of the population.

Banking and currency

In 1821, Saul Solomon issued a token copper currency of 70,560 halfpennies Payable at St Helena by

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