News

Labour Force Update: Employment continues to rise in the Saskatoon CMA in January despite Omicron

Here are the key takeaways from Statistics Canada’s latest labour force update:

  1. Canada lost 200,100 jobs in January due to the impact of Omicron on the economy, with most of these jobs being felt in 4/5 eastern provinces (Ontario, Quebec, Newfoundland and Labrador, PEI and New Brunswick).
  2. However with limited restrictions in Saskatchewan, Omicron had little to no effect on the provincial labour numbers. In fact, Saskatchewan’s employment grew by 3,900 jobs.
  3. The Saskatoon CMA mimics the province with employment jumping to 186,000 jobs, an increase of 4,000 jobs since December.
  4. More good news for the Saskatoon CMA, the unemployment rate continues to fall to 5.2% from 5.6% in December. All labour force characteristics remain fully recovered.
  5. Looking ahead, Saskatchewan has recently announced the lifting of all pandemic restrictions, including proof of vaccination and mask mandate, starting next week and winding down by the end of the month. With this change, combined with an increasingly tightening labour market and a focus on growth and recovery, it is unlikely to see any significant increases in the unemployment rate due to the pandemic.

Tyler Nguyen

Manager, Economic Intelligence
(306) 664-0720