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SASKATCHEWAN ECONOMY OFF TO A STRONG START IN 2012

Released on January 30, 2012

Leading the Nation in Several Categories

As the first month of 2012 comes to an end, the positive economic news rolled in as job numbers and wholesale trade hit monthly records. Saskatchewan led the nation in growth in wholesale trade, retail sales and non-residential construction. Average weekly earnings increased and unemployment dropped.

"The strong and resilient Saskatchewan economy is providing many job opportunities for people who want to live and work in Saskatchewan," Advanced Education, Employment and Immigration Minister Rob Norris said. "Saskatchewan workers continue to benefit from this economic success with competitive wages, and an unemployment rate that has been dropping."

The number of people employed in Saskatchewan in December 2011 was 523,500, a record for the month of December. When expressed as a percentage of the total labour force population, Saskatchewan has the second fewest number of people receiving EI benefits in Canada at 1.2 per cent. According to a report from Statistics Canada released on January 26, Saskatchewan's average weekly earnings were $904.42, the second highest in Canada.

"Saskatchewan led the nation in numerous economic areas in reports released in January," Enterprise Minister Jeremy Harrison said. "Non-residential construction, wholesale trade and retail sales had the highest increases among the provinces as consumers ride a wave of confidence as a result of an economy that is growing, setting the stage for a very good year in 2012."

In a building permits report released on January 9, non-residential construction was up 118.0 per cent in November 2011 over November 2010, the largest rise in Canada. Saskatchewan's wholesale trade in November 2011 jumped 22.3 per cent over last November, more than triple the 6.5 per cent rise nationally and the highest increase among the provinces and a record for the month of November. Retail trade was up by 11.3 per cent in November 2010, the highest increase on a percentage basis in the nation.

All of the major economic forecasters are projecting that Saskatchewan will be either first or second in economic growth in Canada this year.

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For more information, contact:

Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-787-6315
Email: deb.young@enterprisesask.ca

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