Q1 2024 Labour Force Analysis

SREDA’s Quarterly Labour Force Analysis series highlights current trends and insights into the labour market dynamics within the Saskatoon Region. This analysis delves into vital indicators including labour force participation, industry-specific employment growth, unemployment rates, and wage trends.

In analyzing the Q1 2024 data, several key takeaways are seen:

1. The Saskatoon Region leads Canada with the highest labour force participation rate, reflecting strong productivity and workforce engagement.
2. The Saskatoon Region demonstrates steady employment growth across industries, indicating economic resilience and job creation.
3. Despite a steady unemployment rate, the Saskatoon Region faces challenges with labour shortages in key sectors, highlighting the demand for skilled workers.
4. Wage growth in Saskatchewan lags behind the rest of Canada, reflecting a cooling from previous years of rapid increases in prices and wages.

In this analysis you will find the latest labour force statistics, gain valuable insights, and navigate the intricacies of the Saskatoon Region’s dynamic economy.