Bringing Harmony To All The Communities ... BC CANADA Bi-Weekly & Bilingual
Volume 16 Issue 411 Jamadi ut Thani 24 , 1437 AH / April 1, 2016
A senior Bank of Canada official says it will likely take more than two years for the country’s economy to fully adjust to the commodity price shock. Speaking to an Edmonton business audience, deputy governor Lynn Patterson warned that the impact of loss of income to thousands of resource sector workers has yet to work its way through the economy. “Not only do these jobs pay well, they also tend to call for longer work days and, therefore, a greater number of hours worked. For example, in 2014, average hourly earnings and average hours worked in the resource sector were, respectively, about 40 per cent and 25 per cent higher than the national average,” she said. She predicts a lowering of aggregate household incomes throughout Canada as a result. That will extend into 2017, slowing consumer spending and putting a drag on growth. “Adjustments to large negative shocks take time. Although painful for many, the shifts are signs of a dynamic economy,” Patterson said. Similarly, the impact of a falling Canadian dollar that resulted from low commodity prices
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Death toll in Lahore Wpark suicide blast reaches 72 At least 72 people were killed and hundreds injured, many of them children, when a suicide bomber blew himself up in a crowded park in Lahore on Mar 27. details on pg 3&16
Continued on Pg 4
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