New numbers released by Statistics Canada suggest that Canada’s job market may be starting to cool – but one local financial advisor says this province is bucking the trend with more positive things ahead.
Newfoundland and Labrador is leading the country in GDP growth at 5.5 per cent compared to the national average of 1.7 per cent.
Larry Short of Short Financial, a division of iA Private Wealth admits affordability remains a significant issue, and continued uncertainty is having an impact on the national economy, but he believes a “silver lining” is coming.
“We can talk about how things have been pretty negative in the last period of time, but I’ve never been so optimistic about this province as I am right now.”
He says contributing to that sense of optimism is energy demand and what he expects will be positive news on future hydro development in Newfoundland and Labrador.
Economic case for Churchill River development ‘really good’ says Short
“The economic case for the Churchill River development was really good last year, and it is absolutely compelling right now. The price of energy has gone up quite dramatically in the U.S. and the need for that energy has gone up even more significantly with everything including demand for data centres.”
“So, just the Churchill River development itself going forward, and I do expect to hear something very positive about that in the next number of months – not that I have nay insider information – but just because of the compelling nature of that project. That alone will pull the province up quite significantly.”
