REGINA – The Government of Saskatchewan has leapt into first place in building construction investment according to Statistics Canada’s June 2022 Investment in Building Construction numbers.
The province showed a 63 per cent increase (seasonally adjusted) compared to June 2021, ranking first in terms of percentage change.
Saskatchewan also had strong month-to-month growth for building construction investment with a 17.6 per cent increase between May and June 202 and a value of building construction investment in June 2022 of $464 million, the highest monthly investment in the province since August 2013, a provincial government release stated.
“Saskatchewan’s economy is moving full steam ahead as we advance our government’s strategy to increase our exports and attract investment into the province. Saskatchewan is a global leader in the sustainable production of the food, fuel and fertilizer that the world needs, a reality that will lead to more jobs and opportunities in our province for years to come,” said Jeremy Harrison, provincial trade and export development minister, in a press release.
The most current Statistics Canada labour force survey said there were 581,600 people employed in July 2022 – an increase of 24,400 jobs (+4.4 per cent) compared to July 2021, putting Saskatchewan at the third highest percentage increase amongst provinces.
The release also stated Saskatchewan ranked highly in other key economic indicators including June 2022 merchandise exports, which had the second highest year-over-year growth among the provinces at 57.3 per cent, and June 2022 building permits, which had the second highest month-to-month growth among the provinces at 15.8 per cent and the third highest year-over-year growth at 27.4 per cent.