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Sask reports uptick in economy

By November 25, 2022No Comments
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The Government of Saskatchewan is pointing to some key economic indicators as proof the provincial economy is on a roll.

The province reports urban housing starts, for instance, increasing by 78 per cent year-over-year in October ranking second among all provinces as a reason for confidence.

“The province’s strong economy continues to be one of the best in the nation,” said Trade and Export Development Minister Jeremy Harrison.

He says the increase in housing starts is significant and is adding to a long list of impressive economic indicators over the last several months.

Saskatchewan has ranked first in Canada in several other key economic indicators in recent months.

Statistics Canada recently reported a 49.5 per cent year-over-year jump in wholesale trade for September, while that same period saw the value of building construction increase by 56.2 per cent, and merchandise exports up by 45 per cent. 

The province’s manufacturing sales were also up with an rise of 24.1 per cent in September third among the provinces.

Recent Labour Force Survey numbers also show Saskatchewan’s strong economic growth, with 581,400 people employed in October 2022, representing an increase of 18,600 jobs (3.3 per cent) compared to the same year-ago period.

Sask’s unemployment rate has reached 4.6 per cent, tied for third lowest among provinces, and below the national average of 5.2 per cent (seasonally adjusted).