TrendLine Saskatchewan

 

TrendLine Saskatchewan - April 2024

Professional, scientific, and technical services, education, and business services industries lead surge in employment growth in first quarter of 2024

Stephen Johnson

MA
Chief Economist

The first 3 months of 2024 saw a stabilization in increases in the annual average rate of employment growth at 2.2%. Growth has been led by employment in Professional, scientific and technical services, business services, and education sectors. Smaller advances in manufacturing and logistics employment are grounds for optimism. However, the unemployment rate, the number of unemployed, and the number of individuals of working age not participating in the labor force are on the rise despite increasing employment because employment gains are not keeping pace with increases in the available labour force. Housing starts opened 2024 with broad based gains across all sub-categories but faltered in March as 2023 gains in apartment/condos were not matched so far in 2024. The first 2 months of 2024 saw exports, manufacturing sales, and retail trade down against early 2023 data. With average weekly earning above the rate of inflation (now broadly thought to be under control), the province saw gains in wholesale trade, motor vehicle sales, and restaurant receipts



Composite Indicator Actual & Seasonally Adjusted

Key Indicator This Month

Employment

2.2%

April 2024 YTD

Employment

2.2%

April 2024 YTD

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This Issue's Economist:

Stephen Johnson

MA
Chief Economist

This Issue's Editor:

Spencer Boyle

BA, Economics
Project Coordinator


TrendLine Saskatchewan is published monthly by Praxis Consulting.