Saturday November 22, 2014

Unemployment low


Unemployment in Saskatchewan hit a historic low in July, clocking-in at 3.3 per cent (seasonally adjusted). This is the lowest unemployment rate on record for the province since Statistics Canada started recording employment data in 1976. The last time Saskatchewan’s unemployment rate dipped to an all-time low was in April 2014, at 3.4 per cent.

“Our impressively low unemployment rate is the highlight of today’s report,” Agriculture Minister Lyle Stewart said on behalf of Associate Minister of the Economy Jeremy Harrison.  “Saskatchewan’s rate of unemployment is now lower than every other province in the nation, and 49 of 50 American states. Only North Dakota has a lower unemployment rate at 2.7 per cent.”

The province recorded a number of other all-time highs for working age population (843,600), full-time employment (488,100) and male employment (315,100). Monthly records included employment at 570,200, labour force totalling 591,600 and female employment at 255,100.

There were also 6,100 more people working in the province compared to a year ago.  Saskatchewan’s employment growth rate of 1.1 per cent was the second highest among provinces and above the national average of 0.6 per cent.

“What these job numbers say to me is that our economy is on track,” Stewart said. “People who can work are finding skilled, good-paying, meaningful employment in communities across our province and that is great news.”

Other highlights:

Full-time employment increased by 9,900.

Youth unemployment rate (seasonally adjusted) was 6.6 per cent, lowest among the provinces, and below the national rate of 13.2 per cent.

Saskatchewan’s employment increased 500 from the previous month with a growth rate of 0.1 per cent that ranked fourth among provinces.

On a seasonally adjusted basis, Regina’s unemployment rate was 3.4 per cent, down from 3.6 per cent in June 2014 and down from 3.6 per cent a year ago. Saskatoon’s unemployment rate was 3.6 per cent, down from 3.8 per cent in June 2014 and down from 4.0 per cent a year ago. Saskatoon’s unemployment rate was the second lowest, and Regina’s unemployment rate was the lowest, among all Census Metropolitan Areas.

Year-over-year, construction had the largest number of job gains (+6,000) among the 16 major industries, with 12 per cent growth from a year ago. This is six consecutive months of year-over-year gains. Educational services (+3,200) and agriculture (+3,100) ranked 2nd and 3rd for the largest employment gains.



NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Yorkton This Week welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

blog comments powered by Disqus



Lost your password?