According to the latest labour force numbers released by Statistics Canada, Saskatchewan's seasonally adjusted unemployment rate was 5.6 per cent, well below the national average of 6.8 per cent. The province also added 8,400 new jobs year-over-year in the month of November.
"Saskatchewan's economy remains strong, with 8,400 jobs added and the lowest unemployment rate in Canada," Deputy Premier and Immigration and Career Training Minister Jim Reiter said. "Opportunities provided by our growing economy and measures passed to ensure that the province remains the most affordable place to live, work and raise a family in Canada."
Year-over-year, full-time employment increased by 5,900, an increase of 1.2 per cent. Female employment is up 4,600 an increase of 1.7 per cent, and male employment is up 3,700, an increase of 1.2 per cent.
The city of Saskatoon also saw major year-over-year growth. Compared to November 2023, Saskatoon's employment was up 10,500 an increase of 5.2 per cent. Saskatoon's employment growth is ranked sixth among 35 census metropolitan areas.
Major year-over-year gains were reported for health care and social assistance, up 11,700, an increase of 13.5 per cent; accommodation and food services, up 4,100, an increase of 13.6 per cent; and forestry, fishing, mining, oil and gas, up 2,800, an increase of 14.1 per cent.
The province has continued to see economic growth across several other indicators. International merchandise exports grew by 21.7 per cent in October 2024 compared to September 2024, this is the highest increase among provinces. In October 2024, Saskatchewan's urban housing starts had the fourth highest growth among provinces at 25.4 per cent. Saskatchewan's real Gross Domestic Product reached $77.9 billion for 2023, a 2.3 per cent increase from 2022, and in September 2024 the value of Saskatchewan building permits increased by 27.1 per cent year-over-year, fourth highest among provinces.
This economic growth is backed by the Government of Saskatchewan's recently released Building the Workforce for a Growing Economy: The Saskatchewan Labour Market Strategy, a roadmap to build the workforce needed to support Saskatchewan's strong and growing economy, and Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy, a plan to increase investment in the province and to further advance Saskatchewan's Growth Plan goal of $16 billion in private capital investment annually.
