November 03, 2017

Unemployment Rate Drops to 5.9 Per Cent

Saskatchewan’s unemployment rate dropped to 5.9 per cent in October from 7.0 per cent last year, tied for the third lowest in Canada (seasonally adjusted).  Nationally, the unemployment rate was 6.3 per cent.

Our unemployment rate was down from 6.2 per cent in September.

There were 565,800 people employed in October, down 3,400 from October 2016.

“We continue to see the impact of low resource prices on our labour market,” Economy Minister Steven Bonk said.  “However, having the third lowest unemployment rate in the nation shows Saskatchewan’s economy is beginning to recover and that is a good reason to be optimistic about economic growth through the rest of 2017 and into next year.”

Other October 2017 highlights include:

• Major year-over-year gains were reported for other services up 2,200; construction up 1,800; transportation and warehousing up 1,300.
• Saskatoon's employment was up 3,400 (+2.0 per cent) compared to last October.
• Regina's seasonally adjusted unemployment rate (5.4 per cent) was tied for tenth lowest, among major cities in Canada.