Calgary's Once-Booming Economy Hit by Oil Industry's Woes - The Wall Street Journal

CALGARY, Alberta—The massif of steel and glass skyscrapers at the core of this city’s downtown once stood as a testament to the rise of Canada’s oil-and-gas industry.

Now, more than a quarter of the space in these buildings is empty. In December, the unemployment rate, at 7.5%, was the highest among Canada’s largest cities, 2 percentage points above Toronto’s and nearly 3 points higher than Vancouver’s.

Calgary’s...

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Calgary's Once-Booming Economy Hit by Oil Industry's Woes - The Wall Street Journal
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