Manitoba economy prepared for recession through economic diversity: Selinger
Selinger pointed to Manitoba's unemployment rate being among the lowest in the country
Manitoba Premier Greg Selinger says the province will be able to weather a recession because of its diversified economy.
Statistics Canada announced on Tuesday that the country had experienced the second consecutive quarter of negative growth, legally qualifying the Canadian economy to be in recession.
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"The economic forecasts have shown that the whole country will grow more slowly, that has an impact on Manitoba as well but we still remain in the top three economies for the country," Selinger said.
Manitoba is not reliant on one particular industry, and thus can better handle the economic slowdown, Selinger said.
The province continues to be competitive in job generation and has one of the lowest unemployment rates, he said.
The unemployment rate in Manitoba was 5.6 per cent in July, according to Statistics Canada.