Well, the impact on both aggregate GDP and aggregate employment in Canada's economy will be a mixture of positive and negative effects, depending on what sector and what region of the country you're in.
The most negative employment impact of lower oil prices will be felt in the petroleum exploration, development, and construction sectors. This is where you're going to see immediate job losses in Alberta and in other producing regions as the companies dramatically reduce their new spending on investment, exploration, and development.
We'll see some positive impacts on employment in other sectors, those that benefit from lower oil prices, stronger consumer spending, the lower dollar, and the boost to demand in our U.S. trading partner. Those benefits tend to be more dispersed than the negative impacts in the petroleum exploration sector are, so they may not be as visible. But on a net basis, I would expect there to be very little net impact on the overall employment situation from the decline in oil prices.