As The Globe and Mail’s Justin Giovannetti and Kelly Cryderman report today, Alberta is facing its longest slump since the dark days of the 1980s.

“There is no minimizing the impact that low oil prices are having on people’s jobs, on the economy and the government’s fiscal situation,” Finance Minister Joe Ceci said yesterday as he unveiled the province’s fiscal update.

“This is a once-in-a-generation challenge.”

Here are several charts that illustrate the depths of the trouble in the province that is home to Canada’s energy industry.

The government books are in awful shape amid the dramatic slump in oil prices.

“This is the steepest and most prolonged slide in oil prices in recent history,” Mr. Ceci said. “Projections for a quick recovery have proven wrong.”

Alberta is in its second year of recession.

Notably, the government said yesterday, investment in the oil and gas sector is forecast to plunge by more than 20 per cent this year.

“Conventional oil and gas investment has slowed considerably, with the number of rigs drilling falling to multidecade lows,” it said in the fiscal update.

“Spending in the oil sands will be limited to maintenance of existing facilities and the completion of projects that were under construction prior to the price decline.”

The government has cut its forecasts for oil prices amid the supply glut.

“Demand growth has been outpaced by rising production from OPEC and non-OPEC sources, and global inventories of crude oil have swelled.”

According to the latest reading by Statistics Canada today, Alberta lost more than 66,000 jobs last year as employment declined by 3.2 per cent.

“Combined with declines in employment and weaker investment income, primary household income is expected to decline by 1 per cent in 2016,” the government said.

All of which, of course, is going to hit consumer spending.

“With labour conditions expected to weaken further in 2016, household consumption is forecast to fall 0.5 per cent,” the Alberta document said.

Indeed, in a separate report today, DesRosiers Automotive Consultants noted a drop of 10.5 per cent in light vehicle sales in Alberta last month.

Alberta’s housing market is under attack, with a dramatic drop in sales last year.

Which doesn’t bode well for high-debt families amid the spike in unemployment.

According to the Bank of Canada yesterday, highly indebted borrowers, or those whose key debt-to-income ratio is at or above 350 per cent, are “disproportionately more likely to live in British Columbia, Alberta or Ontario, provinces where house prices are the highest.”