Canada's unpopular province is back in the lead for jobs
What caused the unprecedented economic boom?
The province of Saskatchewan has once again taken the lead in economic growth in Canada. According to a new report from Statistics Canada, the region again posted strong economic performance and one of the lowest unemployment rates in the country.
"Saskatchewan has the food, fuel and fertilizer the world needs, and it leads to good jobs and incredible opportunities for the people of our province," says Trade and Export Development Minister Jeremy Harrison.
Saskatchewan's leading position is well deserved. In July 2022, compared to July 2021, there was an 81.8% increase in investment in buildings, 35.6% more homes in the province, 72% more wholesale trade, and 26.8% more manufacturing sales. All of these values are above the Canadian average.
What's more, Saskatchewan had a record 581,500 jobs in August 2022. The unemployment rate was 4.9%, the third lowest in the country. In August 2021, Saskatchewan's unemployment rate was 7%, and the Canadian average is now 5.4%.
Saskatchewan, which has always been one of the unpopular provinces of Canada and whose economy in the last 5 years showed the worst recession in the country, is now experiencing a real economic boom. The reason is said to be the rise in commodity prices. Amid the success, regional authorities canceled a previously planned tax increase, and in August announced a payment of $ 500 CAD to all adult residents.