Paul Martin's Business Update - November 12th

Nov 12, 2013, 04:07 PM, Regina, SK, Canada

Paul Martin's Business Update - November 12th

Saskatchewan’s labor market is getting tighter.

The monthly update on employment in the province paints a picture of employers having even more difficulty finding talent. The unemployment rate fell a dramatic seven-tenths of a percentage point and remains the second lowest in the nation, behind Alberta.

The principal changes that turned up in October were more jobs coupled with fewer people available to fill them. Overall, we saw an increase of roughly 17,000 positions in the past year while the size of the workforce – that is the pool of people holding or looking for a job – contracted slightly. So more openings and fewer people to fill them. This is a tough place to be an employer as they have work that needs to be done but competition for a shrinking talent pool is increasing.

On a year-over-year basis, the number of full-time positions increased by 12,000 while part-time positions increased by 5,000 but the size of the labor pool rose by only 12,000 or two people for every three new positions.

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