Communities in Northern B.C. are bracing for a “considerable downshift” in economic activity, as several energy mega-projects wind down and sawmill and pulp mill closures result in massive job losses.
The Northern Development Investment Trust’s annual State of the North report notes some positive economic developments in some regions, such as new gold mines, but warns of economic headwinds ahead for other regions, especially those that are forestry dependent.
Unemployment in Northern B.C. rose to 5.3 per cent in the fourth quarter of 2023, the State of the North report notes, compared to 3.9 per cent in Q4 2022. The report attributes the rise in the unemployment rate largely to
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