Strong Export Merchandise Growth & Low Unemployment Rate
According to Statistics Canada’s Labour Force Survey released today, Saskatchewan’s unemployment rate was the second lowest among the provinces in November at 6.9 per cent (seasonally adjusted), which is the lowest in western Canada.
“Saskatchewan continues to weather the storm caused by the fall surge of the COVID-19 pandemic,” Trade and Export Development Minister Jeremy Harrison said. “With a strong focus on growing exports as part of our economic recovery strategy, our economy will continue to move in the right direction in the weeks and months ahead.”
In the latest Merchandise Export report released by Statistics Canada today, Saskatchewan had the highest year-over-year growth among the provinces at 22.5 per cent in October 2020 (seasonally adjusted), compared to October 2019. Saskatchewan also ranked first through the first ten months of 2020, Merchandise Exports increased by 3.6 per cent, compared to the same period in 2019. With a growth of 8.5 per cent in October 2020 compared to September 2020 (seasonally adjusted), Saskatchewan ranked third in terms of percentage change, ahead of the 1.7 per cent national growth figure. Merchandise exports in October 2020 were valued at $2.79 billion.
Strong export numbers were supported by growth in a number of sectors, including farm and food products and forestry products.
For more information, including on COVID-19 support for businesses and workers in Saskatchewan, please visit www.saskatchewan.ca/covid19-businesses.