Economy in Northeast B.C. lags behind rest of the Province

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All the latest signs indicate B.C. should hold onto top spot in the provincial growth rankings this year.

Low interest rates and a low Canadian dollar value are the forecast keys for solid growth in the province, but the President of the B.C. Federation of Labor says it’s important to remember the economy is not working for all British Columbians.

Irene Lanzinger also says, it’ clear the Liberal Government promise of the development of a liquefied natural gas industry, had a faulty fruition timeline and arguably the geographical area of the province taking the biggest hit is the Northeast, where among other things the monthly jobless rate through July had averaged 9.1 per cent, more than three per cent higher than the latest provincial average.

While the most recently released survey of investment intentions by Statistics Canada had those outside the energy sector slated to edge ahead slightly by point three percent by the end of the year, it also revealed that capital spending by firms in the energy sector would fall by 19 per cent.