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A former industrial hub, Łódz relied heavily on its textile industry until the 1960's when the unemployment rate soared and eventually led to emigration. Today, Łódz has become a major hub for the Polish business service sector and infrastructure has developed and unemployment has dropped and stabilised. With many educational institutions and students, Łódz is considered an academic centre of Poland but the city remains economically fragile with low activity rates, and ongoing population decline.