In the last 20 years, Great Yarmouth has suffered structural unemployment. The changing nature of economic activity in the town has created a pattern of unemployment which has extreme and regular seasonal disparities. Although the unemployment figures have to an extent followed the national trend downwards, the winter peaks have always been well in excess of anything in Norfolk or East Anglia. Great Yarmouth has more often than not found itself in the worst 20 Travel To Work Areas (TTWA) in the country outside the summer season.

The local economy has a severe economic problem. Great Yarmouth has lost 6600 jobs in manufacturing since 1978. Short term jobs available in the offshore, agriculture and tourist industries disguise the nature and extent of the local unemployment situation - long term unemployment and poor levels of educational attainment and skills. This is reflected in the Index of Deprivation where on average, Great Yarmouth wards ranks 52 out of 354.

With the regeneration efforts that are on going in the area, it is hoped that Great Yarmouth will turn around economically. Plans are in place for building an outer harbour, development of a business park, and construction of new stores. The town also has three local strategic partnerships (social, economic and environmental) to work towards common goals.