Territorial Outlook: Winter 2012

The Territorial Outlook provides the economic and fiscal outlook for each of Canada’s three Northern territories, including output by industry, labour markets, and demographics.

Document Highlights

• The U.S. economy continues to expand and create jobs, but persistent fiscal debt problems in Europe could disrupt global economic growth and weaken demand for Canada’s industrial and primary goods.
• Canada’s North is benefiting greatly from the strength in commodity prices. Real GDP growth in the territories will far outpace the national average over the next two years.
• The need for skilled trade workers in the territories will be a major challenge for mining companies over the next decade as several large projects are expected to go ahead.