I live in Alberta.
Almost all oilsand projects are deferred. The surpluses of budget was cut to 2 billions from 8.5 billions. Real estate market has plunged since June 2007. Provincial heritage found has been decreased by 25%. However, AB still performs best in Canada: the unemployment rate decreased to 3.1% in Dec from 3.2%; most sectors are in labour shortage; the projected growth in 2009 is still positive, the price for SF house in stabilized since September, and migration rate is double of the whole country average level. I talked with my boss. He said the loss is only paper loss. We experience recessions every 10 years. After 12 to 18 months we'll be back to top again. This is typical Albertans' attitude.
回复:多谢!I wonder what happens to AB since oil is down?
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Many thanks for the AB updates.
-美西游子-
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12/09/2008 postreply
13:26:26