"Are you high?
There are no fossil fuel subsidies. "
5 signs of trouble for Saskatchewan's economy in oil slump
1. Housing sales
The honeymoon is over for Saskatchewan's housing boom.
The Canadian Real Estate Association predicts house sales in Saskatchewan will decline by nearly 13 per cent this year.
That's both an indicator of low consumer confidence and an ominous sign for the construction industry.
2. Retail sales
Saskatchewan was the worst performer in the country for retail sales, declining by 2.6 per cent in the past year, according to the National Bank of Canada.
In May 2015, when every other province saw their retail sales rebound slightly, only Saskatchewan experienced another drop.
3. Manufacturing
Thirty-five hundred people have lost manufacturing jobs in Saskatchewan over the past year.
In a relatively small sector, that's a significant job loss — more than 10 per cent.
A welder at Brent Gedak Welding in Estevan still had his job in March 2015, although jobs related to the oil patch were already drying up. (Bonnie Allen/CBC)
Saskatchewan manufacturers cater mostly to domestic customers in the oil, agriculture and potash industries. However, economists had hoped that the weak Canadian dollar and strong U.S. economy would boost export demand.
4. Unemployment rate
The provincial government continues to boast that Saskatchewan has the lowest unemployment rate of any province in Canada.
Yet, Saskatchewan's unemployment rate was 4.7 per cent in June 2015, up from 3.7 per cent a year ago.
The chief economist for Bank of Montreal points out that's not good.
5. Vacancy rate
Cities that cater to the oilpatch have "Apartment For Rent" signs everywhere.
The apartment vacancy rate in Estevan, Sask., has spiked to 20 per cent. (CBC)
The apartment vacancy rate in Estevan has spiked to 20 per cent, and vacancies in Lloydminster and Weyburn have increased fourfold to 11.6 and 8 per cent, respectively.
While a glut of new condos has contributed to this, Canada Mortgage and Housing Corporation also attributes the changing rental market to fewer migrants.
...more..
http://www.cbc.ca/m/news/canada/sas...saskatchewan-s-economy-in-oil-slump-1.3174772
There are no fossil fuel subsidies. "
5 signs of trouble for Saskatchewan's economy in oil slump
1. Housing sales
The honeymoon is over for Saskatchewan's housing boom.
The Canadian Real Estate Association predicts house sales in Saskatchewan will decline by nearly 13 per cent this year.
That's both an indicator of low consumer confidence and an ominous sign for the construction industry.
2. Retail sales
Saskatchewan was the worst performer in the country for retail sales, declining by 2.6 per cent in the past year, according to the National Bank of Canada.
In May 2015, when every other province saw their retail sales rebound slightly, only Saskatchewan experienced another drop.
3. Manufacturing
Thirty-five hundred people have lost manufacturing jobs in Saskatchewan over the past year.
In a relatively small sector, that's a significant job loss — more than 10 per cent.
A welder at Brent Gedak Welding in Estevan still had his job in March 2015, although jobs related to the oil patch were already drying up. (Bonnie Allen/CBC)
Saskatchewan manufacturers cater mostly to domestic customers in the oil, agriculture and potash industries. However, economists had hoped that the weak Canadian dollar and strong U.S. economy would boost export demand.
4. Unemployment rate
The provincial government continues to boast that Saskatchewan has the lowest unemployment rate of any province in Canada.
Yet, Saskatchewan's unemployment rate was 4.7 per cent in June 2015, up from 3.7 per cent a year ago.
The chief economist for Bank of Montreal points out that's not good.
5. Vacancy rate
Cities that cater to the oilpatch have "Apartment For Rent" signs everywhere.
The apartment vacancy rate in Estevan, Sask., has spiked to 20 per cent. (CBC)
The apartment vacancy rate in Estevan has spiked to 20 per cent, and vacancies in Lloydminster and Weyburn have increased fourfold to 11.6 and 8 per cent, respectively.
While a glut of new condos has contributed to this, Canada Mortgage and Housing Corporation also attributes the changing rental market to fewer migrants.
...more..
http://www.cbc.ca/m/news/canada/sas...saskatchewan-s-economy-in-oil-slump-1.3174772
