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Saskatchewan Housing Starts Up 78 Per Cent

Saskatchewan’s economy continues to show impressive growth with urban housing starts increasing by 78 per cent between October 2021 and October 2022, ranking second among the provinces.

“Saskatchewan’s strong economy continues to be one of the best in the nation,” Trade and Export Development Minister Jeremy Harrison said. “Today’s increase in housing starts is significant and is adding to a long list of impressive economic indicators over the last several months.”

Saskatchewan has ranked first in Canada in several other key economic indicators in recent months. Earlier this week, Statistics Canada reported a 49.5 per cent jump in wholesale trade for September 2022, compared to September 2021, while that same period saw the value of building construction increase by 56.2 per cent, and merchandise exports up by 45 per cent.

The province’s manufacturing sales were also up, rising 24.1 per cent from September 2021 to September 2022, third among the provinces.

Recent Labour Force Survey numbers also show Saskatchewan’s strong economic growth, with 581,400 people employed in October 2022, representing an increase of 18,600 jobs (3.3 per cent) compared to October 2021. The province’s unemployment rate has reached 4.6 per cent, tied for third lowest among provinces, and below the national average of 5.2 per cent (seasonally adjusted).

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