Released on July 14, 2022
Investment in building construction numbers for May 2022 show Saskatchewan had the highest increase among the provinces compared to April 2022, with a 6 per cent increase. Saskatchewan’s manufacturing sales in May 2022 increased by 36.1 per cent compared to May 2021, the second highest percentage change among the provinces.
“Saskatchewan’s economy is moving forward with significant strength as we see continued growth across a range of key economic indicators and more people working in our province than ever before,” Trade and Export Development Minster Jeremy Harrison said. “Our Government will continue to focus on growing our economy and ensuring that Saskatchewan is the best place in Canada for businesses and workers to be.”
Compared to May 2021, investment in building construction in Saskatchewan grew by 16 per cent, third in terms of percentage change among the provinces. Nationally, building construction investment fell by 0.2 per cent in May 2022 compared to the previous month, and increased by 8.8 per cent compared to May 2021.
In May 2022, the value of Saskatchewan’s manufacturing sales increased by 2.5 per cent from April 2022, the third highest percentage change among the provinces. The total value of Saskatchewan’s manufacturing sales in May 2022 was approximately $2.2 billion.
In May 2022, another key economic indicator for Saskatchewan, merchandise exports increased by 55 per cent compared to May 2021. This was the second highest increase in the country. Merchandise exports grew to $4.9 billion, a jump of 22.7 per cent compared to April 2022, placing the province second in both year-over-year and month-to-month export growth across all provinces.
Statistics Canada’s Labor Force Survey for June 2022 showed Saskatchewan’s seasonally adjusted unemployment rate fell to 3.9 per cent, the second lowest among the provinces and the lowest for the province since November 2014. For two consecutive months, several all-time employment records were reached, Including overall employment (592,900), female employment (276,300), off-reserve Indigenous employment (67,400), and off-reserve Indigenous full-time employment (55,700).
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Trade and Export Development