# Recession in Alberta



## Deeana (Jul 13, 2008)

*Oilsands spending drop leads to Alberta's first recession in 20 years* 

_By Lisa Schmidt, Calgary Herald March 5, 2009_

A major drop off in oilsands spending will send Alberta’s economy into recession for the first time in over 20 years, a forecast said Thursday.

The Canadian Conference Board of Canada said the sharp drop in oil prices and tight credit markets has forced energy companies to slash spending plans this year.

Sliding manufacturing, construction and mining output will lead to a decline of 0.5 per cent in Alberta’s economy this year, the forecast said.

“The massive pull back in oilsands expenditures will push economic growth in Alberta into negative territory this year for the first time since 1986,” the board said.

The Alberta government is forecasting a $1.4-billion deficit this year, mostly due to falling energy revenues.

But Alberta and British Columbia should help lead an expected recovery in 2010, the board noted.

Only four Canadian provinces will show growth this year, led by Saskatchewan at 1.6 per cent, the forecast said.

Manitoba, Prince Edward Island and New Brunswick will also show growth of one per cent or less.

Newfoundland will see the largest decline of all the provinces, falling 2.6 per cent amid falling oil production and a paper mill closures.


© Copyright (c) The Calgary Herald


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## BOGMAN (Feb 9, 2009)

*Dont even think of moving to canada*



Deeana said:


> *Oilsands spending drop leads to Alberta's first recession in 20 years*
> 
> _By Lisa Schmidt, Calgary Herald March 5, 2009_
> 
> ...


My brother moved to letbridge 3 months ago, and is now trying to get back to ireland, he said thee is no work he had a job to go to and did 2 months the 2 days on and 2 off, it was just as expensive as here and that it wasnt worth all the hasle he had of moving ie visa, he has asked his best freind to pay for the flight home its that bad there. CANADA NO WAY PEDRO.


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