Released on January 9, 2004
Saskatchewan set a new record for employment in 2003, with more people working than ever before.Figures released today by Statistics Canada show Saskatchewan's average annual employment stood at 486,800. This represents an increase of 4,800 over the previous year, and surpasses the previous record for average annual employment of 485,000 set in 2000.
"The figures for the year confirm that Saskatchewan's economy performed well in 2003," Industry and Resources Minister Eric Cline said. "We are building on our strengths in key sectors and creating a positive climate for growth."
Cline noted that despite continuing problems in the key sector of agriculture, overall job numbers for the year were still positive. "Average non-agricultural employment was up by 8,400 in 2003 compared to the previous year, despite the double whammy of BSE and a less than stellar harvest. In fact, we set a new record for average non-agricultural employment and that is certainly positive. We continue to hope that agriculture can turn around in 2004, and if that's the case we're poised to see even stronger job growth in 2004."
December 2003 employment (seasonally unadjusted) stood at 482,500. This is the second highest December on record, second only to December 2002. Last month saw increases in employment levels for manufacturing, the resource industries, finance, insurance and real estate, and public administration.
On a seasonally adjusted basis, December job numbers are up by 2,900 over November, the second consecutive month of job increases. The month over month increase in December is above the Canadian average and tied with Alberta for the fifth highest rate of growth in Canada.
"There are reasonable grounds for optimism in terms of what we might expect for the coming year," Cline said. "Independent agencies show our province at or near the top in economic growth for 2003, and solid growth is also forecast for 2004. The Royal Bank, TD Bank, and CIBC all expect Saskatchewan to have the second fastest economic growth in Canada this year. The Conference Board of Canada places us third. It's reasonable to expect this will be reflected in continued strength in job creation for 2004."
On a year over year basis, the December job numbers are down less than half of one per cent from December 2002. Saskatchewan's 5.3 per cent seasonally unadjusted unemployment rate in December was the third lowest in Canada. Saskatoon's unemployment rate stood at 4.6 per cent, the third lowest among major Canadian cities.
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| Bob Ellis Industry and Resources Regina Phone: (306) 787-8277 |