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First Yellowknife village was settled after gold was found. It became the center of economic activity in the Northwest Territories.
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Yellow Knife still exists
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monument at the cities prince of wales heritage center placed memorial to those who perished in mines.
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A new mining rush and fourth building boom for Yellowknife began with the discovery of diamonds 300 km (190 mi) north of the city in 1991.
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The average annual growth rate was 0.6% for the total population; broken down by age, it was -1.3% for < 15 years, and 6.9% for 60 years and older. The average income in the city was C$57,246, and the average income for a family was C$124,200, with 10.6% of all families earning less than $30,000. Minimum wage is C$9.00 in Yellowknife. Average household expenditures were C$103,762 in 2007.[63] In 2004, the unemployment rate was at 5.0%, an all-time low, and as of 2006 5.7%; the employment
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Purview as capital of the NWT was reduced when the territory of Nunavut was split from the NWT. As a result, jurisdiction for that region of Canada was transferred to the new capital city of Iqaluit. Consequently, Yellowknife lost its standing as the Canadian capital city with the smallest population.
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The last of the gold mines in Yellowknife closed in 2004.
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Yellowknife is primarily a government town and a service centre for the diamond mines.
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In 2006, two-person households with a least one child were the most common size at 36.2%.