Released on March 13, 2015
Saskatchewan recorded the lowest unemployment rate in Canada for the month of February 2015, according to new data released by Statistics Canada today. The unemployment rate was 5.0 per cent, compared to a national rate of 6.8 per cent (seasonally adjusted).“We are in the fortunate position of having an economy that is diversified with the strength of potash and agriculture bridging the gap of low oil prices,” Immigration, Jobs, Skills and Training Minister Jeremy Harrison said. “Encouraging news from RBC yesterday shows Saskatchewan’s economy will have an annual growth rate of more than 2.0 per cent in 2015 and 2016, and jobs will likely follow that trend.”
There were 558,000 people employed, an increase of 100 jobs compared to February 2014 and a record for the month of February. Other records for the month were recorded for the labour force, 590,700 and full-time employment 457,100.
“There is good news in today’s report – the lowest unemployment rate in the country, and job figures up slightly on a year-over-year basis,” Harrison said. “As well, there are still job opportunities out there, with more than 10,000 positions posted on SaskJobs.ca, a sign employers are still looking for workers.”
Other highlights:
- Regina's employment was up 700 (+0.5 per cent), and Saskatoon's employment was up 2,600 (+1.6 per cent);
- Major gains were reported for finance, insurance and real estate up 12.3 per cent; business, building and other support up 14.2 per cent; Utilities up 7.0 per cent; and construction up 4.7 per cent.
- Regina's seasonally adjusted unemployment rate (4.7 per cent) was tied for 2nd lowest, among all major cities in Canada, and Saskatoon's seasonally adjusted unemployment rate (5.0 per cent) was tied for 6th lowest.
- Youth unemployment rate was 10.1 per cent, 2nd lowest among the provinces behind Alberta (10.0 per cent) and below the national rate of 13.3 per cent.
For more information, contact:
Deb Young
Economy
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca