Unemployment in the Cold Lake- Wood Buffalo Region jumped point eight percent to 8.1 in November.
As one might imagine, job losses were mainly in the oil and gas sector with knock on effects felt throughout the local economy. Mayor Craig Copeland makes no bones about it that the situation does not look good. He says the NDP’s Royalty review will go a long way in dictating how 2016 will look for the area.
The ill effects were pronounced during the holiday season, with many businesses reporting sales far below their totals from the same time last year.