GFM Network News

oil derrick in a canola field

Oilpatch’s pain could be agriculture’s gain as layoffs mount

Thousands of energy and construction workers will be looking for jobs, 
but agricultural employers need to attract them

Reading Time: 4 minutes The layoffs have already started in Alberta’s energy sector — but many more are on the way, say experts. “We’re estimating somewhere in the range of $12 billion less investment taking place,” said Michael Burt, director of industrial economic trends with the Conference Board of Canada. “That’s going to translate into thousands of fewer jobs […] Read more

Oil’s steep fall — and the resulting drop in the dollar — has big implications for 
Alberta agriculture.

How the plunge in oil prices and the loonie affects you

From inputs and labour to the complex ramifications for the beef industry, 
the drop in oil prices and the dollar is changing the farm landscape

Reading Time: 2 minutes A plunging loonie and free-falling oil prices will create winners and losers — and farmers will clearly be in the winners’ circle, according to one of Alberta’s top economists. “Agriculture, forestry and tourism will all do well,” said Todd Hirsch, senior economist with ATB Financial. “It’s really a big benefit to agriculture that we are […] Read more