Provincial unemployment rate drops to second lowest in Canada
On December 2, November 2022 job numbers released by Statistics Canada reveal Saskatchewan added 11,800 jobs, an increase of 2.1 per cent when compared to November 2021.
“Saskatchewan continues to see significant job gains and a very low unemployment rate as we approach the end of 2022,” Minister of Immigration and Career Training Jeremy Harrison said. “With strong economic growth in merchandise exports, wholesale trade and building construction, our province is showing remarkable strength, marking Saskatchewan as a continued destination of choice for newcomers and investment.”
The seasonally adjusted unemployment rate decreased from 4.6 per cent last month to 4.2 per cent in November and is down from 5.3 per cent since last year. The national unemployment rate was 5.1 per cent.
Saskatchewan has set several record highs for the month of November:
- Saskatchewan Employment: 574,300
- Saskatchewan Full-Time Employment: 464,900
- Saskatchewan Female Employment: 271,000
- Off-reserve Indigenous Employment: 61,300
- Off-reserve Indigenous Full-time Employment: 50,400
The off-reserve Indigenous unemployment rate decreased to 6.6 per cent, an all-time historical low. Employment was up 1,500 (+2.5 per cent), marking 24 consecutive months of year-over-year increases.
November full-time employment increased by 7,600 jobs (+1.7 per cent) while part-time increased by 4,300 jobs (+4.1 per cent).
Major year-over-year gains were reported for professional, scientific & technical services, up 5,000 jobs (+19.0 per cent), health care & social assistance, up 3,500 jobs (+3.9 per cent), and forestry, fishing, mining, oil and gas, up 2,900 jobs (+16.1 per cent).
Saskatchewan has ranked first in Canada in several other key economic indicators in recent weeks. 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, the third highest growth among the provinces.