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Conclusionsdownload report in Adobe Acrobat format While all of BC’s Development Regions experienced unstable economic conditions, the CDR was hit exceptionally hard—a consequence of its heavy reliance upon the resource sector. In 2009, the Cariboo’s unemployment rate was the highest in BC, and dependency on income assistance increased to one of the highest rates in the province. 2008 income data indicates that the recession that began late that year had already begun to impact purchasing power. Major project investment, however, rose marginally, and a significant portion (approximately one third) was under construction. The business climate showed mixed results—while incorporations declined for the third straight year, bankruptcies fell and are at their lowest level in more than a decade. And the number of business establishments grew, mostly sole proprietorships and smaller operations. Nonetheless, 2010 has started out on a positive note. Rising pulp and lumber prices are fuelling new interest in the previously shuttered Mackenzie pulp mill.[29] Canfor’s Mackenzie sawmill began a second shift in February, which nearly doubled the workforce.[30] And the Mount Polley Mine may continue operating beyond 2015, while the proposed Mount Milligan copper-gold mine recently received approval from both provincial and federal agencies and is now poised for development.[31] Labour Force Survey data for the first three months of 2010 indicates that job losses have stabilized in the Cariboo. Economists, however, have warned about a jobless recovery, meaning employment may lag economic growth over the next year. Footnotes
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