Norfolk is located in the East of England and has been part of England since the 10th century. The county capital and largest city is Norwich. Although Norfolk County was formed over a thousand years ago, it has only been an official administrative division since 1974, when it replaced the county boroughs of Great Yarmouth and Norwich as well as the surrounding districts of Broadland, Breckland, Kings Lynn & West Norfolk, North Norfolk, South Norfolk, and Waveney. Norfolk is one of Britain’s most economically stable counties. The unemployment rate in Norfolk is just 2%, compared with a national average of 4.6%. More than half of all jobs in Norfolk are classified as good quality and 74% of employees in Norfolk feel they are fairly compensated for their work. In total, 805 billion pounds were spent on goods and services across Norfolk during 2014.