That's a bit of an exaggeration. I'm certainly not going to claim that everything is hunky-dory, but Alberta actually added 3,000 jobs last month. Unemployment still rose, so presumably people must have been moving here in search of work. Of course, the figures don't tell you how good the new jobs are.

The number of oil and gas wells being drilled has dropped sharply, so companies which specialise in drilling are certainly struggling, and companies have laid off contractors in the field, but so far there has been nothing approaching a collapse so far. Some of the smaller companies which specialise in Oil Sands development are also struggling, because the costs are now higher than the revenues and credit markets have dried up, but the larger companies are in a much stronger position to ride things out for a while. The only question is whether they can ride it out for long enough. Fingers firmly crossed!

Yep the whole industry collapsed, gone Calgary is a ghost town.

This picture of downtown was taken only last week.



A stupid response to an equally stupid statement.

There is now more recognition than there was late last year that Canada is unlikely to be immune to the global financial mess. The current situation with work and property very much depends on the type of work (CBC radio had a piece about a cobbler's business upturn) and area. I would be very cautious about how I made the move over to Canada from the UK if I was doing it right now.

to quote Vic Reeves " research has shown that 75% of statistics are made up"

Before we start calling people stupid, downtown Calgary doesn't look like that obviously, then again I was in the City of London last week for a meeting and there were plenty of cranes and construction all over the place. However despite appearances we all know the British Economy is in the Shitter.

We also know that to extract oil profitably from Tarsands the oil price has to be above 80$ per barrel, at the moment it is hovering between 30$ and 45$, the question does have to be asked, how long can the "boom" continue at these prices. Canada has half the population of the UK so quite simply this monthly job loss of 120,000 plus is like the UK losing 240, 000, in a single month! terrifying!

Look at other industries, Canada is huge on car building, the dockside car parks are full of unsold cars all over the world, how long can the factories in Ontario keep going if there is nobody to buy their products. It would be nice if caling people "stupid" would actually solve the problem, but sadly it's more complicated than that

The fact remains, Canada is just as deeply in trouble as the UK or russia or Gemany or anywhere

Oh FFS get a sense of humour. You really didn't think for a second I was being serious did you? Especially the picture.

I said it was a stupid statement which it is, I also stated my response was equally stupid to reflect same. I did not state that you were stupid but if you want to read that way I can't stop you.

The oil industry is nowhere near collapse nor is it likely to be despite the current recession/depression.

I thought it looked like that actually. Most misleading.

No worries, I've been called worse than that, I can take it

Who's 'we'?

We've had people working in the oil industry here saying the figure is more like $40 a barrel, and I've heard similar numbers elsewhere (and didn't the oil sands boom start at around $45 a barrel?). Absent a global depression, I suspect current prices are going to be a short-term low; any significant return of global demand is likely to push oil up closer to $100.

Certainly there's no doubt that a drop in price from $140 to $40 a barrel is going to hit Canadian oil production, but it would have to stay at current levels for a sustained period to be really problematic.

The OH usually flies for the government of Alberta in the Summer and Heli Skiing in the winter, the fall should have been oil work, but there was zip to be had...........we are lucky because his company is going out to other less wealthy countries to pilage them for oil, where presumably it's cheaper produce etc. I just hope to goodness, that this year is better than last, we were down 20K in earnings. But the good thing was he got paid a retainer for spending 4 months at home with us

However, these people who say they can't find a full time job in Alberta, must be looking up their bums or are very select in what they want to do, there are still lots of jobs in general service industry etc. So if you really wanted to work full time you could here in the Bridge, although admittedly, as always mothers struggle finding part time jobs.

I have no idea what 2009 is going to bring, I have to admit I am concerned for sure and will be saving more than I'll be spending this year when I can

Ms M x

I agree with you, I'm sure long term it will all be fine, maybe in a couple of years. It's just tough until then