Quote:
Originally Posted by Innsertnamehere
^whether the growth is occurring here or not the fact remains that Southern Ontario's population is about 250% of Albertas, there is way more GDP produced here than anywhere else in the country. Its much like the US where most of the growth is occurring in the south but NYC remains the undisputed economic capital, one which Houston or Atlanta cannot come even close to touching.
Ontario is also growing at about 1.5-2% annually, which while a healthy pace isn't the 4% that Alberta was going at. Alberta is also set to dip into recession in the coming months due to the oil price gouge.
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Certainly, Ontario has the biggest GDP of any province.... however, relative to Alberta, it has been slipping very badly for several decades.... So while Ontario has a larger GDP overall, its GDP per capita is now only 61% of that for Alberta.... and with that slippage, it is no longer the economic engine of the country. Alberta has worn that crown for a long time now. The price of oil has been diving for about 7 months now, but the employment figures for Alberta continue to be surprisingly strong.
"One national economist was speculating that on Friday as Statistics Canada reported that both the Calgary region and Alberta saw employment growth in December while the rest of the country shed jobs. In fact, Alberta’s 2.9 per cent hike in employment from a year ago was the best in the country."
http://calgaryherald.com/business/lo...ry-and-alberta
The current oil price is not sustainable over the long term... OPEC's predatory pricing scheme to drive out the higher cost competition is why prices at the pumps have dropped so much.... consumers who think these actions will work in their long term economic interests are fools.