Description: Ten years ago, over 300,000 Canadians made their living in the forestry and related industries. Since then, Canada has lost close to 120,000 jobs in the sector. Currency issues, commodity price swings, and the rise of the internet are all contributing factors to this decline. Meanwhile though, Canadian that depend on forestry jobs watch on as closing mills change their lives and the face of their communities.
Source: Globe and Mail.com
Date: December 5, 2014
1) What does the decline of forestry say about the future of the Canadian economy?
2) What strategies could industry and government employ to deal with the decline of forestry?
3) If you were an accountant inside the forestry industry, how would you calculate rates of return on planting new forests which might not be harvested for many years by an industry that may be significantly different from what it is today?