Saskatchewan's Economic Growth

Media Release, SK Gov't

February 07, 2025

key points from this story:

• Lowest unemployment rate among provinces at 5.4%
• Added 9,900 new jobs year-over-year in January
• Full-time employment increased by 3,000 (0.6%)
• Female employment up 4,300 (1.5%)
• Male employment up 5,400 (1.7%)
• Major job gains in construction, healthcare, agriculture

According to the latest labour force survey numbers from Statistics Canada, Saskatchewan started off 2025 tied for the lowest unemployment rate among provinces at 5.4 per cent, below the national average of 6.6 per cent. The province also added 9,900 new jobs year-over-year for the month of January. "Saskatchewan continues to regularly have one of the lowest unemployment rates in the nation as our economy continues to create more jobs and more opportunities," Deputy Premier and Immigration and Career Training Minister Jim Reiter said. "Our government is committed to ensuring that Saskatchewan continues to grow and that is why we are focused on growing access to health care and educational spaces while taking action to make life more affordable for Saskatchewan people."

Year-over-year full-time employment increased by 3,000, an increase of 0.6 per cent. Female employment is up 4,300, an increase of 1.5 per cent, and male employment is up 5,400, an increase of 1.7 per cent. Major year-over-year job gains were reported for construction, up 6,300 (+16.6 per cent), health care & social assistance, up 5,900 (+6.5 per cent), and agriculture, up 3,500 (+15.3 per cent).

Saskatchewan's two biggest cities also saw year-over-year growth. Compared to January 2024, Saskatoon's employment was up 10,400, an increase of 5.4 per cent, and Regina's employment was up 1,200, an increase of 0.8 per cent. Saskatchewan also saw strong growth across other economic indicators. The province ranked second in year-over-year retail trade growth with a 5.1 per cent increase from November 2023 to November 2024. Saskatchewan ranked second in the nation for month-over-month growth in building construction investment with an increase of 5.7 per cent. The province also saw an 11.8 per cent increase in year-over-year construction investment from November 2023 to November 2024.

This economic growth is backed by the Government of Saskatchewan's recently released Building the Workforce for a Growing Economy: The Saskatchewan Labour Market Strategy, a roadmap to build the workforce needed to support Saskatchewan's strong and growing economy, and Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy, a plan to increase investment in the province and to furth advancing Saskatchewan's Growth plan goal of $16 billion in private capital investment annually.