Paul Martin's Business Update - September 20th

There seems to be a bit of settling in this province’s labor market.

This particular segment of the economy has been a challenging one – especially for employers. They’ve been scrambling to find workers in a marketplace that is generating a high number of new employment opportunities.

A new update on the state of the labor market from StatsCan shows some narrowing of the gap. This particular analysis uses a different approach to measure whether the labor situation is tight. It examines how many jobs are vacant compared to the number of people who don’t hold a job.

In the past year, the ratio in Ssakatchewan has fallen from 3.3 to 2. That means there are fewer jobs going unfilled but, even though it is declining, it is still the second-highest in the country, behind Alberta. According to StatsCan higher numbers usually point to a market that is in a growth phase.

What these changes suggest is that while the economy is still expanding and additional jobs are being created, the number of people available to fill them is also on the rise.

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