Released on July 5, 2002
Saskatchewan's job numbers continued their dramatic rise in June, postingtheir second double-digit increase in as many months.
Statistics Canada figures released today show a 12,800 gain in employment
numbers over the previous June. That follows an 11,100 jump in May over
May of 2001.
There were 494,300 people employed in the province last month (seasonally
unadjusted), an increase of 2.7 per cent from the previous year and the
largest percentage increase among the western provinces.
"We've had great job numbers for two months in a row, which is a testament
to the fundamental strength of our economy," Industry and Resources
Minister Eldon Lautermilch said. "Saskatchewan had a decade of solid job
growth prior to the agriculture challenges of last year - these latest
stats are further evidence that Saskatchewan may be returning to those
growth years."
Job numbers increased in services, retail and wholesale trade, and finance,
insurance and real estate. Employment in agriculture, a sector that has
struggled in recent years, was relatively unchanged - a decrease of 300
over the previous June.
Other economic indicators were also positive. Retail and department store
sales, new motor vehicle sales, urban housing starts, new business
incorporations, residential building permit values and manufacturing
shipments are all up. Social assistance caseloads are at their lowest
level in a decade.
Lautermilch noted all major banks and the Conference Board of Canada are
optimistic about Saskatchewan's economic prospects in 2002. The Toronto
Dominion Bank has just revised its forecast upwards for 2003, predicting
that Saskatchewan will post 4.2 per cent growth next year.
Saskatchewan had the second lowest unemployment rate in Canada at 4.9 per
cent in June (seasonally unadjusted), down 0.4 percentage points from last
year, and well below the national rate of 7.1 per cent. Regina's
unemployment rate of 4.4 per cent was the second lowest of major Canadian
cities.
"Our job numbers will continue to fluctuate each month, but today's figures
are very encouraging for an economy that is dealing with challenges but
which is seizing its rich opportunities," Lautermilch said. "Our
diversification efforts of the last decade have positioned us well for
future growth, as has our plan of investments in key infrastructure,
sustainable tax cuts, sound fiscal management and new investment
attraction. Working with Saskatchewan businesses and communities, we will
create more jobs for Saskatchewan people and more prosperity for our
province."
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For more information, contact:
Bob Ellis
Industry and Resources
Regina
Phone: (306) 787-1691