Thousands of energy jobs lost to Alberta downturn are gone for good, economist says
'Because of the use of better technology and innovation, the energy sector will not need as many people'
Thousands of oil and gas jobs lost during the Alberta recession are gone for good, predicts ATB financial chief economist Todd Hirsch.
Even if the price of oil surpasses $100 a barrel, Alberta's energy workforce will never return to pre-recession levels, Hirsch said.
"I've learned as an economist to never say 'Never,' but even if it were to come back, because of the use of better technology and innovation, the energy sector will not need as many people going forward."
Since the calamitous drop in oil prices in 2015, the industry has been forced to find new ways to cut labour costs, he said.
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