Saskatchewan's economy continues to show strong signs of growth, with building construction investment surging by 18.4% in January 2024 compared to the same period last year. This marks the third-highest growth rate in the country, according to Statistics Canada data released today.
In a March 18th news release, the Minister of Trade and Export Development Jeremy Harrison said that "These statistics are further proof that our investment friendly business environment and stable regulatory regime are leading to economic prosperity for the province."
Minister Harrison added that "As our construction sector continues to flourish, Saskatchewan people are seeing the benefits of a strong economy with more added jobs, and how this economic strength leads to a higher quality of life for communities across our province."
The January 2024 investment figure sits at $433.0 million, reflecting a positive trend that began in December 2023 with a 2.1% month-over-month increase.
This positive news comes alongside recent reports of strong job growth in the province. In February 2024, Saskatchewan added a significant 18,700 new full-time positions, pushing the unemployment rate down to the third-lowest nationally. This job surge is attributed in part to the impressive $12.4 billion in private sector investment seen last year.
The provincial government remains committed to fostering continued growth. The recent launch of "Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy," along with a revamped investSK.ca website, demonstrates their dedication to attracting further investment and propelling Saskatchewan's economy forward.