Will there be an impact on Southern Alberta?
Answer: With the review of the overall article, it can be said that the massive effect of the pandemic has been devastating the ion the economy of Canada. There has been a plunge in the price of oil, trade tensions between two superpowers and many more. In this context, it can be said that there will be an impact or effect in the Southern Alberta as well because it is a part of entire Canada and when the economy of Canada is being affected by the massive and rising rate of unemployment in the country, the entire sub sections of the country will be equally affected. Therefore, the article has shown that the unemployment rate is rising at an increasing rate, which will hamper all part of Canada and the residents of each part will be financially affected to a great extent.
Will there be an impact on your personal economic situation, if so, what will happen?
Answer: As per the fact that the country of Canada is facing huge difficulties and crisis in various aspects because of the rising rate of unemployment, there will be a massive effect on the personal economic situation as well. It is because employment plays a vital role in the economy of the country, and as a result, the rising rate of unemployment can lead to a huge financial crisis and productivity of the country. Therefore, a loss in the economy will hamper the personal economic situation. It is because the income level of each individual in the country will decline to a certain level, which will definitely affect the economic situation. Also, unemployment of an individual will adversely affect the personal economic situation of that particular individual, as there will be no source of income and as a result, he or she will not be able to afford to purchase any kind of products.