Saskatchewan continues to exhibit robust economic growth, marked by a significant increase in employment figures. According to the latest Statistics Canada data, the province added 14,400 new jobs year-over-year, including 7,300 full-time positions and 7,100 part-time jobs over June of last year. This job growth has propelled Saskatchewan to achieve all-time historical highs in both employment and labor force for the second consecutive month, with 619,100 jobs and a labor force of 651,100.

Key Economic Drivers and Sectors

The recent job growth reflects Saskatchewan’s dynamic and diverse economy, driven by significant investments and expansion across various sectors:

Educational Services: This sector saw an increase of 4,600 jobs, representing an 8.9% rise year-over-year. The growth highlights the province’s focus on strengthening its educational infrastructure and workforce.
Accommodation and Food Services: Adding 3,300 jobs, a 10.2% increase from the previous year, this sector’s growth indicates a recovery and expansion of hospitality and tourism activities.
Professional, Scientific, and Technical Services: This sector experienced a 9.3% growth, adding 3,300 jobs, underscoring the province’s development in high-skill industries.

Major urban centers, including Regina and Saskatoon, have significantly contributed to this growth. Regina’s employment increased by 5,000 jobs (3.4%), and Saskatoon’s employment rose by 5,400 jobs (2.7%) compared to last June, reflecting the economic vitality of these cities.

Population Growth and Unemployment Rate

Saskatchewan’s population (aged 15 and over) reached an all-time high of 950,100, alongside a record off-reserve Indigenous population of 113,600. This demographic expansion supports the province’s growing labor market and economic activities.

The provincial unemployment rate decreased to 5.5% in June, positioning Saskatchewan as the province with the third lowest unemployment rate, well below the national average of 6.4%. This reduction indicates a healthy job market and successful employment strategies.

Retail Sales and Construction Investments

The economic growth in Saskatchewan is further evidenced by a surge in retail sales and construction investments:

Retail Sales: The province experienced an 8.5% increase in retail sales in April 2024 (seasonally-adjusted), totaling $2.2 billion compared to March 2024. This growth demonstrates robust consumer spending and economic confidence.
Building Construction Investments: There was a 9.7% month-over-month increase in building construction investments, reaching $439 million in April 2024. This represents the highest year-over-year growth among provinces, indicating a strong construction sector and ongoing infrastructure development.

Navigating Saskatchewan’s dynamic economic landscape requires strategic planning and expert guidance. As the province continues to grow at an unprecedented pace, individuals and businesses may face challenges in capitalizing on these opportunities. Our firm specializes in providing comprehensive immigration services, including preparing, advising, and representing immigration applications. Whether you are a skilled worker looking to join Saskatchewan’s thriving workforce or a business seeking to invest in this burgeoning market, we are here to assist you in achieving your goals.