Released on January 13, 2022
Saskatchewan First Among the Provinces in Year-over-Year Increases
Today, Statistics Canada released November 2021 Investment in Building Construction numbers, with Saskatchewan seeing a 16.8 per cent increase (seasonally adjusted) in investment from November 2020 to November 2021, ranking first among the provinces in terms of percentage change. Investment in residential building construction led the year-over-year growth with an increase of 20.4 per cent.
Saskatchewan also placed second among the provinces in terms of percentage change from October 2021 to November 2021, with a 10.6 per cent increase (seasonally adjusted) in investment in building construction. The value of building construction investment in November 2021 was $344 million.
"Today's numbers from Statistics Canada shows our province continues to be at the forefront of an economic recovery in the midst of the global COVID-19 pandemic," Trade and Export Development Minister Jeremy Harrison said. "Not only are we seeing significant growth in investment in residential and non-residential building construction and building permits, but also Saskatchewan's recent job numbers are leading the nation which is certainly an indication that we are building a strong Saskatchewan."
In the latest Statistics Canada Labour Force Survey, Saskatchewan's month-over-month employment (seasonally adjusted) increased by 6,000 (up 1.1 per cent) from November 2021, which was the highest growth among provinces in terms of percentage change.
Saskatchewan building permits in November 2021 also jumped by 57.0 per cent (seasonally adjusted) from November 2020 and increased by 49.5 per cent (seasonally adjusted) from October 2021 figures.
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Trade and Export Development