Paul Martin’s Business Update – January 29th, 2015

Jan 29, 2015, 04:22 PM

Last year was a good one for full-time work.

StatsCan has just released a year-in-review on the job front in 2014 – how employers approached the market and what it meant for labor. Saskatchewan had the second highest growth rate in job creation behind Alberta. We were tied with Manitoba which made the Prairies ‘THE’ place to find work.

The high points of the year-end review look like this:

  • Saskatchewan employers created 8,200 net new positions in the year;
  • Full-time work rose by an even stronger number – more than 14,000;
  • Part-time spots fell by 6,000 as employers elevated temporary and entry-level jobs to full-time status.

At the same time as we saw 8,200 new jobs, the labor pool expanded by only 6,600 so we had a higher percentage of the population employed which resulted in a reduction in the unemployment rate….from 4.0 per cent at the start of the year to 3.7 per cent by year’s end. That confirms our status as having the lowest unemployment rate in the nation….or the tightest labor market in Canada.