I became curious about the employment situation in Newfoundland after having read The Shipping News. I particularly found the dialogue between Quoyle and Jack interesting (p 63-69), where Jack is telling Quoyle about the work situation in Newfoundland and his own personal experience as a labourer
in various businesses:

And the fishing's went down, down, down forty years sliding away into nothing, the goddamn Canada government giving fishing rights to every country on the face of the earth, but regulating us out of business.

Then the bloody Greenpeace trying to shut down the sealing

...We don't want fishermen. We'll train you in a marketable skill. See, they're bringing in industry. Jobs for everybody.
 

1998 was a strong year for the economy of Newfoundland. It turned out to be the best year in a decade, with a growth of 4.4% in the Real Gross Domestic Product. To my great surprise it was the highest growth in any of the Canadian provinces. The leading part in these statistics was the private sector, particularly within export, where the growth was at 10.6%.

It looks like the oil industry is getting big in Newfoundland now. The oil production at the Hibernia field, the largest oil field in the area, reached almost 24 million barrels in 1998. This set a new Canadian record, accounting for about 9% of the total export that year. Around 960 people were employed at Hibernia that year, giving hope for the future job situation in Newfoundland, not only for offshore activities, but also for creating business on land. To Norwegians it might be interesting to know that the Norwegian company, Norsk Hydro is a part of the oil business in the area, contributing with 8.2 million $.

The results of consumer spending showed a growth as well, due to an increase in employment and incomes. The outlooks for the future employment situation in the Province is positive, as investments in local business are increasing, but unfortunately many people in the area are still unemployed, and the unemployment rate is still the highest in Canada, at about 16,9% in 1999.

It looks like fishing and sealing still are important Newfoundland industries, and they are important factors in the local growth, with the fishing industry being the dominant of the two. The activity of sealing is, to my surprise, also going well. Greenpeace has obviously not succeeded in their threats. Over the last years the income generated from fishing and sealing shows a gain of about 25 % , the highest level ever
achieved in the area, according to local statistics. Harvesting employed 10500 people in the area. The dominant part in this business is the local shrimp fishery, being one of the largest producers of cold water scrimp in the world. This also leads to a growth in the secondary fish production in Newfoundland, employing 6200 people.

Newfoundland has also experienced an increase in tourism in the last few years, supporting about 2400 businesses in the area. The year 2000 is expected to contribute to additional income, being the Viking Millennium.
 
 

These statistics sure look promising for the area, and turned out to be quite different from what I expected, after having read The Shipping News.
 

Below you find some links to the latest business statistics in Newfoundland. I highly recommend to have a look at them.
 

Statistical Indicators  The Economy  Oil and Gas  FisheriesTourism
 

The Telegram  is a leading Newfoundland newspaper. They have a special section on business as well as other local themes, and if you are interested in finding out more about the area you should have a look at their site.

MillenniumCanada is also worth having a look at, particularly if you are into fancy web sites, but you can also find very interesting information about Newfoundland here.