Vancouver Island Economy.

So if you haven't been living under a rock the last 6 months, you know the economy is not looking it's healthiest. We've all heard about it, some are experiencing it personally. The doom and gloom was evident on the front page of the "Daily News" today in Nanaimo. Although I was reading a different article a couple days ago - that stated our unemployment is only at 5.5% on Vancouver Island, which isn't GREAT but it's definitely not that BAD.


I'd like to make this blog a community sounding board for anyone that has had their job directly affected by the current economic downturn.

Please comment and tell us your story.

Comments

Chrystal Ocean said…
The largest Island employer is the provincial government and by far the greatest number of jobs with the BC government are in Victoria. In other words, VICTORIA is doing fine. The rest of us are being severely impacted by losses in the forestry sector. The Cowichan Valley is a case in point. There have been 1,200 layoffs in that industry locally in recent months. This is having a huge impact. Can't find the source, but recall reading that applications for EI and welfare jumped in the area by a substantial margin - it was at least double.
Anonymous said…
The pace of the work has changed significantly for me. 2008 was flat out - I have been 100% chargeable in '09 but the nature of the work is less dynamic because the client is "playing it safe"

That being said, there is a lot of optimism. If the project moves forward (ie no NDP government and propaganda-infused public opinion doesn't kill the project) then there will be oodles of economic activity for the North Island for years to come.
s_przada said…
Very interesting. I know that the Nanaimo WFP have been closed indefinitely, laying off about 500 people. All WFP's are running at minimum capacity, so a lot of mill workers are getting a couple days a week if that. Scary situation, does anyone feel like it will improve anytime soon? I don't like the doom and gloom, but I'm sensing the American economy being built on constant borrowing, borrowing, borrowing and no returning or paying back has reached it's limit. The whole world will revolutionize as a result. Could America turn into a third world country? Hyperinflatin?

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