New jobs record for Saskatchewan. (Economic Indicators).Employment * In October October: see month. 2002, Saskatchewan recorded its sixth consecutive increase in employment on a year-over-year basis. Statistics Canada's Labour Force Survey for October 2002 showed employment in October (seasonally unadjusted) was up by 22,300, compared to October 2001. There were 492,200 people employed in Saskatchewan in October; this represents the third straight month that records have been set for job numbers. * Non-agricultural employment was up 17,200 compared to October of last year. The agricultural sector recorded an increase of 5,000 jobs over the previous October. * Saskatchewan had the second lowest unemployment rate in Canada at 5.0% in October (seasonally unadjusted), down 0.1 percentage points from last year, and well below the national rate of 6.9%. * On a seasonally-adjusted basis, employment in Saskatchewan was up by 2,200 or 0.5 per cent in October 2002, compared to September 2002. This represents the highest percentage increase among the ten provinces. Retail Sales * Retail sales in Saskatchewan increased by 9.8% during August 2002 compared to August 2001, climbing to $799.6 million. The year-over-year increase was the eleventh In music or music theory an eleventh is the note eleven scale degrees from the root of a chord and also the interval between the root and the eleventh. Since there are only seven degrees in a diatonic scale the eleventh degree is the same as the subdominant and the interval consecutive monthly increase for Saskatchewan's retail trade sector. * In September 2002, department store sales increased by 4.9% compared to September of last year. * New vehicle sales in September 2002 increased by 9.4% compared to last year. New Business Incorporations * New business incorporations in August 2002 increased by 14.1% compared to the same month in 2001. Housing Starts * Housing starts more than doubled in September 2002 over last year. In the first nine months of 2002, urban housing starts increased 43.1% to 1,721, compared to the same period in 2001. Gross Domestic Product * According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Statistics Canada, compared to other provinces in the period 1992-2001, Saskatchewan averaged the second-highest growth rate in real Gross Domestic Product (GDP GDP (guanosine diphosphate): see guanine. ) per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. (2.6% per year); the highest growth in productivity, defined as real GDP Real GDP This inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price", "inflation-corrected" GDP or "constant dollar GDP". per employed person (2.1% per year); the fourth-highest growth rate in personal income per capita (3.0% per year); and also the third-highest growth rate in personal disposable income disposable income Portion of an individual's income over which the recipient has complete discretion. To assess disposable income, it is necessary to determine total income, including not only wages and salaries, interest and dividend payments, and business profits, but also per capita (2.9% per year). Other Indicators * Another positive sign of a strong and growing economy is the decrease in social assistance caseloads in Saskatchewan. In September 2002 the caseload case·load n. The number of cases handled in a given period, as by an attorney or by a clinic or social services agency. caseload Noun was 29,569, down 2,375, or 7.4%, from September 2001. This is the 94th consecutive month with a year-over-year drop in the caseload. Economic Forecast * In its fall 2002 forecast, the Conference Board of Canada The Conference Board of Canada is a not-for-profit Canadian organization dedicated to researching and analyzing economic trends, as well as organizational performance and public policy issues. expects to see employment in Saskatchewan grow this year by 7,000 and increase in 2003 by 10,500. * The Conference Board is also forecasting real growth for Saskatchewan of 4.2 per cent in 2003, assuming a normal crop year. This growth rate would exceed the national average and be second-highest among the provinces. [GRAPH OMITTED] |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion