Newfoundland and Labrador
Newfoundland and Labrador is the most easterly province in Canada, and is at the north-eastern corner of North America. The Strait of Belle Isle separates the province into two geographical parts: Labrador, which is a large area of mainland Canada, and Newfoundland, an island in the Atlantic Ocean. The province also includes over 7,000 tiny islands.
For many years, Newfoundland and Labrador had experienced a depressed economy. Following the collapse of the cod fishery during the early 1990s, the province suffered record unemployment rates and the population decreased by roughly 60,000. Due to a major energy and resources boom, the provincial economy has had a major turnaround since the turn of the 21st century. Unemployment rates decreased, the population stabilized and had moderate growth. The province has gained record surpluses, which has rid it of its status as a "have not" province.
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