Quote:
Originally Posted by LeftCoaster
Without the oil sands Toronto would not be enjoying the boom it is right now.
Period.
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Really? Toronto represents one sixth of the countries labour force. Almost none of the people here work in the oil industry. The big six banks making money off their investments have very little to contribute to the local economy unless you can prove most Torontonians work for banks though I doubt you'll be able to do that. Toronto's diverse economy means it's more stable then to just rely on one industry for it's growth. If that were true we'd be seeing more office buildings going up to house all of the new banking jobs that only deal with the oil sands. That's just not the case sorry. I love how people write comments here then end it by typing PERIOD thinking that makes it right. Pretty funny.
CIBC - “The consistently strong performance of Toronto reflects the growing diversity of the city’s economic engine,” wrote the bank’s deputy chief economist Benjamin Tal. Though the labour market “is showing signs of fatigue, the quality of employment continues to improve.”
Hmmm doesn't really sound like they were saying Toronto's strength comes from what's being done in Northern Alberta.
You can read the article here but you probably won't wan't to .
< look I didn't spell that dot at the end of my sentence.
Bouncing back from recession, Toronto leads Canada’s growth -
http://www.theglobeandmail.com/repor...rticle2307960/