Value-Added Agriculture

June 18, 2018

In a nutshell, value-added agriculture is about creating final products that consumers are willing to pay more for. This may sound simple, but there are many ways to add value to a raw good.

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Manufacturing in Saskatchewan

May 29, 2019

Saskatchewan is known for its abundance of natural resources and the industries surrounding them. Learn how one of these industries — Manufacturing — is an important contributor to the Saskatchewan economy.

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Saskatchewan’s Trade Relations with China

May 27, 2019

The relationship between North America and China has been hogging headlines for more than a year. Since last January, the United States and China have been going back and forth with trade negotiations and tariffs. Find out why these events behind the headlines have a significant impact on Saskatchewan.

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Major Projects from the Saskatoon Region in 2018

May 14, 2019

Here are some of the major projects that took place in the Saskatoon Region during 2018. We did our best, but this might not be a comprehensive list.

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Are Saskatoon Airport stats a sign that GDP is growing?

March 8, 2019

Tourism and the airline industry specifically have a significant impact on local economies. It is commonly recognized that there is a correlation between GDP growth and growth in airport passenger traffic. So the question is: To what extent?

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How diverse is the Saskatoon Region’s economy?

January 28, 2019

We keep hearing that the Saskatoon economy is more diversified now than ever, but amidst headlines attributing a dependence on the resource sector to lack of economic growth, many are asking the question: How diverse is the Saskatoon economy really?

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Is Saskatoon hiring?

January 3, 2019

The number of job vacancies haven’t changed much in Saskatchewan over the past few years. But what has changed since 2015 is the difference between the Saskatchewan and Canadian vacancy rates.

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Saskatoon Region continues to create jobs despite weakness at the provincial level

August 16, 2018

Saskatoon employment growth revs up in July. The local economy added 1,400 jobs in July, tallying up to 5,500 new hires since the beginning of the year. This was among the strongest performances across the CMAs. Compared to July last year, the number of persons employed in the metropolitan area was up 2.8%.

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Construction intentions down in Saskatoon, reflecting further retreat in condo and institutional permits

August 10, 2018

The first half results paints a mixed picture of an economy in which commercial and industrial construction intentions are gradually improving while residential construction is declining due to oversupply, stricter mortgage rules and rising interest rates. Since construction accounts for about 11% of the Region’s GDP, it will be interest to watch whether the sectors outlook improves in the next quarter.

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Sask. manufacturing shipments hit a new record

August 2, 2018

Manufacturing shipments rose 5.5% to a historic $1.6 billion in May, following a 6.5% increase the prior month. Compared to same period last year, shipments from Saskatchewan factory floors were up 22.9%, the highest year-over-year gain among the provinces.

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Construction intentions tick higher despite a retreat in residential permits

June 22, 2018

Construction permits pick up in April. The total value of building permits issued by Saskatoon and surrounding municipalities increased 12.8% m/m to $93.1 million in April. following a 43.3% increase the prior month.

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Saskatoon’s economy continues to create jobs but the unemployment rate remains sticky

June 14, 2018

Employment inches to a record high. The local economy created additional 500 jobs in May, tallying up to 2,900 new hires since the beginning of the year. Employment has never been so high (173,000) in metropolitan area. Compared to May last year, the number of persons employed in the CMA was up 2.1%.

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Sask. economy expected to maintain stability amidst slow labour market recovery

March 27, 2018

SREDA’s Q2 Consensus Forecast Survey show economists have slightly trimmed their 2018 outlook for the Saskatchewan economy. Real GDP growth is now forecast to come in at 2.0%, 0.1 percentage point slower than projected in December, pushing it down to fifth position on the provincial growth leader-board. The economy is expected to expand at a slightly moderate pace (+1.9%) in 2019, tied with BC and Ontario for second place on the leader-board.

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It’s taking longer to find a job in Saskatchewan but not as long as Alberta, Ontario and Quebec

March 20, 2018

The duration of unemployment is a typical lagging indicator, which tends to peak after a recession has occurred. As the economy continues to build on last year’s gains, with several indicators supporting a consensus forecast of 2.1% in 2018, we should expect to see the duration of unemployment come down.

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Saskatoon’s economy churned out 1,100 jobs in February, driving the unemployment rate to 18-month low

March 16, 2018

Employment rebounds after three months of declines. The local economy added 1,100 jobs in February, the largest monthly gains since October 2015. Compared to February 2017, employment was up 0.5%, closer to where it stood four months ago.

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Saskatoon bankruptcies sticky in their decline

March 12, 2018

After two successive rate hikes last year, we are starting to wonder if increasing borrowing cost is already putting pressure on Sask. households. The 2017 data shows many are avoiding outright bankruptcy by choosing to restructure their debts, which isn’t the cheapest alternative either.

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6.0% PST took a bite out of Sask. restaurant sales in 2017

March 6, 2018

Restaurant patrons tend to be price-sensitive. The expansion of PST to restaurant meals in April 2017 immediately led to higher menu cost and reduced appetite for restaurant meals. Saskatchewan was the lone province with lower food service sales in 2017. Nationally, receipts from food service and drinking places were up 5.3% in 2017.

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Saskatoon rental price continue to lag the general rate of inflation

March 2, 2018

The January data paints a picture of falling rents in YXE, as landlords continue to offer discounts and rental incentives in response to historically high vacancy rate (9.4%). With ongoing improvement in economic conditions in the Region and strong population growth, we can expect to see stronger rental demand and gradual withdrawal of rental incentives.

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Construction poised to rebound as building permits spike

February 21, 2018

One of the best leading indicators available to economists is building permits issued by municipalities. At the time that Calgary, Edmonton and Regina continue to see declines in permits, Saskatoon has made a strong comeback, signaling a potential rebound in construction activity six to 12 months ahead. This bodes well for the local economy.

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Saskatoon begins the year with a drop in employment

February 13, 2018

The labour market began the year on a soft note. The CMA lost 400 jobs in January, marketing the third consecutive monthly decline since October 2017. Compared to same period last year, employment was down 0.3%, closer to where it stood two years ago.

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Construction intentions up in November, reflecting strong gains in multi-family permits

January 17, 2018

Construction permits in the Saskatoon CMA increased for the second consecutive month after a decline in September.

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Saskatoon employment down in December but rebounds in 2017 with a positive shift to full time employment.

January 10, 2018

Overall, in 2017 employment in the Saskatoon CMA rose 1.1% (or +1,800 jobs), representing a modest rebound from 2016. In 2017 Saskatoon added 2,500 full-time jobs and shed 800 part-time positions.

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Saskatoon Consumer and Business Bankruptcies on the Decline

December 13, 2017

Consumer bankruptcies in Saskatoon are coming down. On quarterly unadjusted basis, 80 consumers filed for personal bankruptcies in Q3-2017, 11.1% fewer than the same quarter last year. Over the same period, the number of consumer bankruptcy proposals fell by 8.8%. Despite the quarterly declines, consumer bankruptcies and proposals are slightly higher in the first three quarters of 2017 than a year ago.

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Saskatoon Labour Market Takes a Step Back After a Strong Showing in the Last Six Months

December 6, 2017

The local economy shed 1,200 jobs in November after strong consistent gains in the last six months (+3,700). However, even with the November loss, net employment in the Region was still up 1.6% YTD, a rebound from 2016.

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Saskatoon Tenants Continue to Enjoy Cheaper Rent Despite an Uptick in Rental Demand

December 1, 2017

Saskatoon now has the lowest average monthly rent in October 2017 compared to other major Western Canadian cities.

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Saskatoon building permits took a big leap in August

October 18, 2017

After two consecutive months of decline, construction intentions have picked up the pace. The total value of building permits issued in the Saskatoon CMA jumped 70% from $53.2 million in July to $90.5 million in August.

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Saskatoon labour market continues to improve

October 13, 2017

Saskatoon’s labour market appears to be on the mend with the most recent Statistics Canada data showing five conservative months of job gains. The local economy added 900 new positions in September, tallying up to a net of 2,378 jobs since the beginning of the year. Despite a sturdy increase in the number of people joining the labour force, last month’s job gain was strong enough to nudge the CMA’s unemployment rate down to 7.9%. Compared to a year ago, employment in the region was up 1.7% in September.

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Saskatoon tenants catching a break as rents continue to fall

September 11, 2017

One predictable outcome from the recent economic downturn is falling price of rental accommodations, a benefit to new tenants and cost to landlords. The latest data from the Consumer Price Index show rents in Saskatoon continue to decline after ramping up over the past decade.

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Key Economic Indicators Over the Last 10 years.

August 11, 2017

With Brad Wall’s tenure as Premier of Saskatchewan coming to a close, here’s a summary of provincial economic metrics over the last decade.

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A Breakdown of Saskatchewan-United States Trade

July 12, 2017

With NAFTA renegotiations on the horizon, the Saskatchewan-U.S. trade balance becomes vulnerable to shifting in favour of our southern neighbours.

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How’s Business – John Williams

June 2, 2017

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How’s Business – Clay Dowling

March 10, 2017

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Investment Intentions for 2017 Show Small Climb

March 6, 2017

After two years of decline, capital investment in Saskatchewan is expected to climb higher in 2017, albeit by a moderate amount.

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Provincial Wholesale Trade Climbing Higher

February 24, 2017

As an industry, wholesale trade flies under the radar, especially compared to its more popular and monitored cousin – retail trade. However, over the past ten years the industry has been an important driver for growth in the Saskatoon Region, with data showing that provincial wholesale trade volumes nearly doubled from 2006 to 2016 – the fastest growth of any province.

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Provincial Wages Higher than National Average

February 1, 2017

Back in 2007 average weekly wages in Saskatchewan were more than 5% below the national average. Fast forward to Q4 2016 and wages in Saskatchewan have increased to be above the Canadian average and third highest among all provinces.

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Saskatchewan Manufacturing Gathering Steam

January 20, 2017

Since reaching the low point of the current cycle in November 2015, Saskatchewan manufacturing shipments have been grinding steadily higher.

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Saskatoon CMA Housing Starts Dip in 2016

January 12, 2017

After booming along with the broader economy between 2010 and 2015, residential construction activity in the Saskatoon Region cooled off slightly in 2016.

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Provincial Exports Gearing up for Strong Finish

January 10, 2017

Falling commodity prices weighed heavily on the value of Saskatchewan’s exports in late 2015 and much of 2016. However, according to data released by Statistics Canada last week, exporters in this province are on track to finish 2016 on a high note.

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Saskatoon Region Navigates 2016 with Small Job Loss

January 9, 2017

2016 wasn’t the easiest year economically for the prairies as prices for many commodities reached multi-year lows. However annual employment data shows that the diversity and resilience of the Saskatoon Region economy allowed it to handle the commodity storm relatively well.

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Young Saskatoon Population Supports Future Growth

December 22, 2016

Demographics can have an important impact on economic growth. Fortunately for the City of Bridges, data compiled by Statistics Canada indicates Saskatoon has the youngest population in Canada – and by a fairly wide margin.

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Saskatchewan Population Continues to Grow in Q3

December 20, 2016

Population data released by Statistics Canada shows that Saskatchewan’s population grew at a rate of 0.41% during Q3 – in line with the Canadian average of 0.43%.

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U.S. Interest Rates Inch Higher – What it Means for Saskatoon Region

December 15, 2016

Interest rates in Canada and the U.S. have been really low ever since the Global Financial Crisis in 2008. Yesterday the U.S. Central Bank (the Federal Reserve) raised rates slightly, and while this doesn’t directly impact borrowers in Canada, it does have the potential to eventually influence rates in Canada and other financial variables such as the CAD/USD exchange rate.

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October Provincial Exports Jump to Highest Level of 2016

December 8, 2016

Data released by Statistics Canada this week shows Saskatchewan exports perked up in October, surging to their highest level of the year.

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Saskatoon Employment Notches Higher in November

December 5, 2016

Data released by Statistics Canada on Friday indicates that the Saskatoon Region economy added jobs for the fifth consecutive month in November 2016.

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SK Farm Cash Receipts Nearly $10B in 2016

December 1, 2016

Through the first three quarters of 2016 Saskatchewan farm cash receipts totaled just under $10.0B ($9.998B to be exact). This amount is down slightly from the first three quarters of 2015 when provincial farm cash receipts reached a record $10.1B, but is up from $9.4B during Q1-Q3 2014.

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Canadian Dollar’s Impact on Saskatoon Region Economy

November 25, 2016

The Canadian dollar started this year off at its lowest level against the U.S. dollar in over 10 years. Since then the loonie has risen, however by historical standards it remains low.

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Why Has Saskatchewan Retail Spending Softened in September

November 23, 2016

After experiencing some of the strongest growth in retail spending across all provinces between 2010 and 2013, Saskatchewan retail activity has cooled off in 2015 and 2016.

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Saskatchewan Manufacturing Shipments Rise Again in September

November 18, 2016

Saskatchewan manufacturing shipments rose 1% in September 2016 to $1.24B (seasonally adjusted), their highest monthly level since January 2015.

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Saskatoon Residents Benefit from Cheap Gas

November 4, 2016

With the decline in oil prices over the last two years, Canadians have enjoyed lower gasoline prices at the pumps.

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Saskatoon Housing Starts – Soft Landing at Sustainable Levels

October 12, 2016

After experiencing a building boom from 2007 to 2014 (except for 2009), the Saskatoon residential construction market has slowed to a more sustainable pace since the start of 2015.

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Construction Intentions in Saskatoon – The Ups and Downs

October 7, 2016

Construction is a key sector within the Saskatoon Region economy. Recently spending on a large number of non-residential projects has buoyed this sector.

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What’s Driving Saskatoon’s Population Growth?

September 19, 2016

Despite the recent economic slowdown in the provincial economy, Saskatchewan’s population has continued to climb higher. But what’s actually been driving that population growth may come as a surprise to some.

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Q2 Canadian GDP: How Concerning is it for SK?

September 1, 2016

Data released yesterday by Statistics Canada shows that Canadian Gross Domestic Product (GDP) contracted by an annualized 1.6% in Q2 2016. This is the largest contraction since Q2 2009, when the world was mired in the global financial crisis.

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Saskatchewan Wages Notch Higher in June

August 26, 2016

Back during the boom, wage growth in Saskatchewan was among the strongest in the country. Recently, growth in earnings has cooled down, but as data released yesterday points out, wages in Saskatchewan remain among the highest in the country.

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SMEs: The Backbone of the Provincial Economy

August 24, 2016

Back in February, SREDA released its Saskatoon Region Economic Diversity Report. This report highlighted the Region’s diversified economy, outlining the range of industries supporting the population. The backbone of this diverse economy is an army of small businesses.

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Saskatchewan Retail Sales Jump in June

August 19, 2016

Maybe it was the weather or maybe it was pent up demand. Whatever the reason, Saskatchewanians didn’t hold back on their shopping needs (or wants) in June.

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Provincial Manufacturing Jumps in June

August 17, 2016

Given some of the less than stellar news stories emanating from the Saskatchewan manufacturing sector recently (including job losses), yesterday’s manufacturing shipment survey from Statistics Canada provides a welcome dose of positive news.

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Confidence in the Saskatoon Region Economy

August 15, 2016

The slowdown in the Western Canadian economy has been well broadcast and according to a recent survey done as part of the SREDA NewsFlash, that melancholy sentiment is echoed by the local community.

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Housing Starts Down But Not Out

August 10, 2016

While residential construction activity remains slow compared to recent years, the number of new homes being started in the Saskatoon Region moved higher for the second consecutive month in July.

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July Sees Job Gain After Long Stretch of Losses

August 5, 2016

After a tough stretch in which the Saskatoon Region economy saw job losses in six of the last seven months, employers changed their tune and recorded a solid gain to payrolls in July.

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SK Renovation Expenditure Keeps Demand for Contractors and Builders Strong

August 4, 2016

While the slowdown in new housing construction (i.e. housing starts) in Saskatchewan has been well broadcast, what has been less publicized is the strong level of renovation activity that has continued unabated.

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SK Restaurant and Bar Sales Up from 2015

August 3, 2016

Despite the slowing economy, Saskatchewanians have continued to enjoy a meal out of the house thus far into 2016.

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SK Retail Trade Still Catching its Breath

July 29, 2016

When consumers feel optimistic about things such as their job prospects and finances, they often show it by hitting the streets and dropping their hard earned cash at stores.

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Non-Res Construction Remains Buoyant in City

July 21, 2016

When the private sector economy slows down, one of the best things governments can do to counteract this is to simply build stuff . And that appears to be exactly what’s happened in Saskatoon in 2016.

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Saskatoon Housing Prices Remain Steady

July 19, 2016

In contrast to skyrocketing home prices in Toronto and Vancouver that have vexed regulators concerned about affordability, housing prices in Saskatoon have remained fairly stable.

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Housing Starts Notch Higher in June

July 13, 2016

Despite some wet-soggy weather during the month, builders in Saskatoon started construction on a higher number of residential dwellings in June 2016.

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June Sees Small Drop in Saskatoon Employment

July 11, 2016

Employment has dropped slightly in June 2016. SREDA Insights provides a quick summary of the reasons why and if we should be concerned.

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Saskatchewan Minimum Wage Increasing

July 6, 2016

We know Saskatchewan’s minimum wage is increasing, but how does Saskatchewan compare to other provinces? How is the minimum wage calculated? What’s the impact on Saskatoon businesses? Will it increase again? SREDA Insights provides a quick summary of this issue.

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