Released on November 8, 2002
For the third straight month Saskatchewan has set a record for job growth.Statistics Canada figures released today show that 492,200 people were
working in the province in October (seasonally unadjusted). That's the
highest number ever for the month of October, beating the previous record
set two years ago and up 22,300 jobs over October 2001.
Saskatchewan has now recorded six consecutive months of solid job growth
over last year's figures. Saskatchewan also had the highest percentage
increase in job growth of any province in October.
"These new job numbers are further proof of Saskatchewan's economic
momentum this year," Industry and Resources Minister Eldon Lautermilch
said. "The numbers are a testament to the diversification and resiliency
of our economy, and to the competitive business climate that Saskatchewan
people enjoy."
Non-agricultural employment was up 17,200 compared to October of last
year. Agriculture, a sector that has struggled, showed an increase of
5,000 jobs over the previous October.
On a seasonally adjusted basis, job numbers in October were up 2,200 over
those for September of this year, also the highest percentage increase
among the provinces.
Other economic indicators are also positive. Manufacturing shipments,
retail sales, new vehicle sales, residential building permit values,
international exports, potash sales and natural gas production are all up.
Social assistance caseloads continue to decline.
Recent forecasts by the major banks are optimistic about Saskatchewan's
growth prospects this year, and the Conference Board of Canada is expecting
Saskatchewan's economy to record the second highest growth rate among the
provinces next year.
Saskatchewan had the second lowest unemployment rate in Canada at 5.0 per
cent in October (seasonally unadjusted), down 0.1 percentage points from
last year, and well below the national rate of 6.9 per cent. Regina had
the second lowest unemployment rate among major Canadian cities at 4.9 per
cent.
"While our job figures will continue to fluctuate from month to month, we
have strongly rebounded from last year," Lautermilch said. "We have a lot
of exciting prospects on our horizon, and through the new marketing
campaign we've just unveiled, we're promoting those prospects and our
considerable successes.
"We're reminding our own residents and telling the rest of the nation that
in Saskatchewan the future is wide-open – for new businesses and new
investment, new jobs and new careers for Saskatchewan people."
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For more information, contact:
Bob Ellis
Industry and Resources
Regina
Phone (306) 787-8277