Saskatchewan's Labour Market Thrives

Recent labour force statistics from Statistics Canada reveal that Saskatchewan's job market remained robust in 2024, achieving unprecedented job growth. The province added 14,000 new positions, resulting in an impressive annual unemployment rate of 5.5%, the third lowest among Canadian provinces and significantly lower than the national average of 6.7%. In total, 606,200 individuals were employed in Saskatchewan last year, marking a record high for the province.

Deputy Premier Jim Reiter, who also serves as the Minister of Immigration and Career Training, attributed this job growth to the growing confidence among employers in Saskatchewan's economy. "Saskatchewan is experiencing significant job growth, which is a result of the confidence job creators have in our economy," he stated. Reiter emphasized that the expanding opportunities in the province have attracted more individuals to live and work in Saskatchewan. He also highlighted the government’s commitment to enhancing healthcare and educational services to ensure Saskatchewan remains a top destination for families in Canada.

Notable Employment Trends and Economic Strategies

As of December 2024, Saskatchewan's seasonally adjusted unemployment rate stood at 5.9%, once again below the national average of 6.7%. The province experienced a substantial year-over-year increase in employment, adding 11,600 jobs during December alone. Female employment soared to a record high of 286,600, reflecting an increase of 8,800 or 3.2% over the year, while male employment grew by 2,800 or 0.9%.

Saskatoon, in particular, witnessed significant employment growth, with job numbers rising by 12,100, reflecting a 6.1% increase compared to December 2023. Key sectors contributing to this remarkable job expansion included healthcare and social assistance, which saw an increase of 11,200 jobs (12.7%), and construction, which gained 6,000 positions (14.3%). The forestry, fishing, mining, oil, and gas sectors also contributed, adding 2,500 jobs or a 12.1% increase.

These developments are supported by two critical strategies from the Government of Saskatchewan: "Building the Workforce for a Growing Economy: The Saskatchewan Labour Market Strategy," which aims to enhance the workforce to meet the demands of a flourishing economy, and "Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy," designed to boost investments in the province and achieve the ambitious goal of $16 billion in annual private capital investment.