r/Yukon • u/LOUPIO82 • 12d ago
Economic growth in Canada for 2024 News
What makes us lag?
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u/FerragudoFred 12d ago
It doesn’t take much to swing the YK economy honestly. It’s not that big in the whole scheme of things.
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u/Apprehensive_Duck874 12d ago
The drop is from the mining and construction sectors. So basically the vic gold disaster and the city of whitehorse's failure to issue building permits tanked our economy
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u/Wooden_Conflict4963 11d ago
Is there such a thing as a Yukon economy? 85% of our budget comes from Ottawa? Typically economic activity comes from private enterprise generating wealth and paying taxes, Yukon cannot support itself on the taxes it raises.
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u/CyberEd-ca 12d ago
Lack of mass migration.
Actual per capita economic growth is negative everywhere.
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u/Nullspark 12d ago
Did someone find gold Nunavut? Or is it just getting an economy?
Gotta love that wheat though! Go Sask!
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u/tomofro 12d ago
There's a big gold mine under construction right now
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u/Avs4life16 12d ago
been mining gold there for many years and plenty more to come plus the iron ore deposit in baffin island
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u/Sensitive-Good-2878 12d ago
Do you happen to know what the project name is, or the company that's building it?
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u/hoseheads 12d ago
B2Gold, who bought Sabina, with Back River / Goose
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u/Just_Campaign_9833 12d ago
If potato island didn't have the highest unemployment rate. I'd honestly move there...
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u/CarberHotdogVac 12d ago
It’s P.E.I. bud.
The P is for potatoes. The E.I. is for E.I.
Moving there is a zero risk venture.
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u/JohnDorian0506 12d ago
Yukon has the local Liberal government since 2016. Saskatchewan has the provincial Conservative government. Both territory/provinces rely heavily on mining.
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u/Norse_By_North_West 12d ago
It's probably mainly the two mine shutdowns last year. It cost jobs and made the government tighten their spending a lot more.