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Canada: Layoffs loom in Alberta’s oil patch
Posted by Financial Post: Geoffrey Morgan on January 3rd, 2015
Financial Post: It`s been years since David Yager has seen multiple “For Sale” and “For Rent” signs in Fort McMurray, the northern Alberta city that is usually crawling with workers from across Canada looking to make a buck in the oilsands boomtown.
In times when the province’s unemployment rate plunged below 4%, workers paid exorbitant rents to live in Fort McMurray garages. In late December of this year, amid predictions of a spike in the province’s unemployment rate, bachelor suites in “Fort Mac” were being...
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