Released on June 6, 2003
Saskatchewan is now entering its second year of solid growth in job numbers.Figures released today by Statistics Canada show 493,700 people working in Saskatchewan in May (seasonally unadjusted), an increase of 7,600 over May 2002. That's the 13th straight month of job growth over previous year figures, and marks the second highest figure ever for the month of May.
"This strong job growth, stretching now over a year, is a testament to the businesses and dynamic sectors that are making it happen," Industry and Resources Minister Eric Cline said. "It's a major indicator of our healthy, diversified economy."
Full-time employment was up 8,800 jobs over the previous May. Non-agricultural employment increased by 10,300 jobs year over year while agricultural employment decreased by 2,900 jobs.
Sectors showing job increases included services, manufacturing, transportation, finance, insurance and real estate.
Cline noted recent independent forecasts from Global Insight, Scotiabank and TD Bank are all predicting strong growth for the Saskatchewan economy.
Other indicators also show the economy's strength. Manufacturing shipments, potash sales, building permit values, urban housing starts, natural gas production, and oil and gas well drilling are all up.
"The latest figures we have for retail sales growth (March, 2003) show us leading the nation," Cline said. "This is a bellweather of consumer confidence. It tells us more people are working, they have disposable income to spend, and they're doing it all right here at home. It's a vote of confidence in our province and its wide open future."
Saskatchewan was tied for the second lowest unemployment rate in Canada at 5.8 per cent in May (seasonally unadjusted), down 0.4 percentage points from May 2002 and well below the national rate of 8.0 per cent. Regina was tied for the second lowest unemployment rate of major Canadian cities at 5.5 per cent. Saskatoon had the fourth lowest rate at 6.0 per
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For More Information, Contact:
| Bob Ellis Industry and Resources Regina Phone: (306) 787-8277 |