Saturday, July 20, 2024

Saskatchewan saw an increase of 30,300 jobs

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Saskatchewan had one of the strongest rates of job growth in Canada in June as more of the economy reopened and the province continued its strong recovery from the impact of the pandemic.

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According to job numbers released by Statistics Canada today, Saskatchewan saw an increase of 30,300 jobs (seasonally adjusted), or 6.0 per cent, in June compared to May.

Saskatchewan ranked fourth highest in month-to-month job growth slightly ahead of the national average growth rate of 5.8 per cent.  Employment in Saskatchewan is now at 92.6 per cent of its pre-COVID February level, ranking third highest employment recovery of all provinces, ahead of the national average of 90.8 per cent.

“The increase in jobs over the previous month shows significant recovery and indicates that the effects of COVID-19 on the province’s labour market are beginning to moderate,” Immigration and Career Training Minister Jeremy Harrison said.  “As Saskatchewan is working toward a strong economic recovery, we are pleased to see these positive indicators that show our province is taking the right course of action with the Re-Open Saskatchewan plan.”

Saskatchewan’s unemployment rate in June was 11.6 per cent (seasonally adjusted), down from 12.5 per cent in May 2020, and below the national average of 12.3 per cent.

Other positive signs of a strong economic recovery include the Canadian Federation of Independent Business (CFIB) business barometer index for small business confidence showing Saskatchewan with the second highest ranking among provinces at 59.1 points, above the national average of 54.6 points.

Also, in the first half of 2020, Saskatchewan’s urban housing starts had the highest year-over-year growth in Western Canada, second highest among all provinces, with an increase of 23.2 per cent, compared to the same period in 2019.  Nationally, urban housing starts declined by 6.5 per cent over the same period.

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