March 05, 2021

Strong Start to 2021 in Building Construction Investment

Saskatchewan First Among the Provinces in Month-Over-Month Increases

Today, Statistics Canada released January 2021 Investment in Building Construction numbers, with Saskatchewan seeing a 14.7 per cent increase from December 2020, including a 21.2 per cent increase in residential building construction.  Saskatchewan also saw a 12.5 per cent increase in January 2021 compared to January 2020.  The value of building construction investment in January 2021 was $307 million.

"Today's numbers from Stats Canada show our province continues to recover from the global COVID-19 pandemic and our economy is moving in the right direction," Trade and Export Development Minister Jeremy Harrison said.  "Not only are we seeing significant growth in residential building construction, Saskatchewan's export and job numbers have been remarkable in recent months."

Merchandise Exports in Saskatchewan increased by 14.6 per cent in January 2021, compared to January 2020.  Saskatchewan ranked second in percentage change among the provinces on a seasonally adjusted basis, an increase well above the national average of a 1.0 per cent decrease.

In the latest Statistics Canada Labour Force Survey, Saskatchewan's January 2021 seasonally adjusted unemployment rate was the lowest among the provinces at 7.2 per cent, and well below the national rate of 9.4 per cent.