REGINA — Saskatchewan continues to set the standard for job growth according to the latest numbers released by Statistics Canada.
According to the report, Saskatchewan added 22,900 new jobs year-over-year in the month of July, ranking second among provinces in terms of percentage change at 3.9 per cent. This is the largest number of jobs added year-over-year since July 2022.
Saskatchewan has the lowest unemployment rate, seasonally adjusted, among provinces at 5.4 per cent, well below the national average of 6.4 per cent.
The province led the nation in month-to-month labour force growth, with seasonally adjusted employment increasing by 6,700 from June 2024, ranking first among provinces in terms of percentage change at 1.1 per cent. Saskatchewan was the only western province to see employment growth with only one other province in the country adding jobs.
July 2024 saw all-time historical highs (aged 15 and over), with:
- Saskatchewan's labour force reaching 652,800;
- Saskatchewan's full-time employment reaching 514,700;
- Saskatchewan's male employment reaching 335,500;
- And the Off-reserve Indigenous population reaching 113,900.
Off-reserve Indigenous employment was up 2,400, an increase of 3.7 per cent and Indigenous youth employment was up 500, an increase of 4.3 per cent compared to July 2023.
Year-over-year, full-time employment increased by 16,600, an increase of 3.3 per cent, and part-time employment increased by 6,300, an increase of 6.7 per cent. Female employment is up 10,200, an increase of 3.8 per cent, and male employment up 12,600, an increase of 3.9 per cent.
Saskatchewan's two biggest cities also saw major year-over-year growth. Compared to July 2023, Regina's employment was up 2,700, an increase of 1.8 per cent, and Saskatoon's employment was up 7,900, an increase of 3.9 per cent.
Major year-over-year gains were reported in wholesale and retail trade, up 7,200, an increase of 7.5 per cent; educational services, up 5,200, an increase of 13.3 per cent; and healthcare and social assistance, up 3,900, an increase of 4.2 per cent.
Saskatchewan's economy continues to see growth across several other categories. The province's retail trade sales value and building construction investment for May 2024 (seasonally adjusted) increased by 6.1 per cent and 12.9 per cent, respectively, when compared to May 2023. Saskatchewan currently has the lowest rate of inflation according to the June 2024 Consumer Price Index release, at 1.4 per cent.
