The economy of Penzance has, like those of many Cornish communities, suffered
from the decline of the traditional industries of fishing, mining and
agriculture. Penzance now has a mixed economy consisting of light industrial,
tourism and retail businesses. However, like the rest of Cornwall, housing
remains comparatively expensive, wages low and unemployment high. In 2007,
house prices rose 274% from 10 years prior, the fastest rise in the UK. The
fishing port of Newlyn, which falls within the parish boundaries, provides some
employment in the area, but has also been greatly affected by the decline in
the fishing
