8  In fact, our research shows that this simple “no change” assumption is generally about as good as those produced by sophisticated models or futures markets. However, we believe that, over the medium term, there are upside risks to this assumption. BIS central bankers’ speeches  3  employment peak in 2014.
But supply-chain linkages and spillovers to other sectors meant that the losses were much broader: almost 70,000 jobs disappeared in these provinces. Regional divergences also emerged. While employment in these energy-producing provinces fell, it grew in the rest of Canada.