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Red Deer has lost one in 10 jobs over past year, economist says

The City of Edmonton's chief economist had some more grim news about Alberta's financial situation on Tuesday.
Edmonton's chief economist warns that the downturn in the Alberta economy shows no signs of easing up in the short term. 4:09

The City of Edmonton's chief economist had some more grim news about Alberta's financial situation on Tuesday.

John Rose said Edmonton has been somewhat buffered from the full effects of the current downturn, because the city has so many government and health care jobs.

But the news is much worse in Calgary, Grande Prairie and Fort McMurray.

"Look at Red Deer," Rose said. "What a mess. Over one in 10 jobs has disappeared in 12 months. They've got real problems."

Rose spoke at BUILDEX Edmonton, the city's largest trade show and conference for the construction, renovation, architecture, interior design and property management industries.

For the future, Rose said things aren't looking up. 

"If you asked me where I'm leaning," Rose said, "if anything I'm going to be taking my forecast down, not up."

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