We’ve summarized the key takeaways from Statistics Canada’s latest labour force update:
- 174,700 people were employed in the Saskatoon CMA before the COVID-19 pandemic arrived. 20 months later, October has marked an important milestone in the shift to recovery.
- Total employment for the Saskatoon CMA has now surpassed pre-pandemic levels at 175,600 people employed as of October.
- The same cannot be said for the province – Saskatchewan saw a jobs decline in October. With economic recovery progressing across Canada, only two out of 10 recorded provinces have fully recovered (Ontario and B.C.) Alberta had recovered as of September, but October’s update removed the province from the list.
- Saskatoon’s unemployment rate fell to 7.1%, down from 7.8% in September. This, however, is still higher than before the pandemic because of increased numbers of people entering the labour force (1,600 as of this update).
- On October 23rd, CRB, CRSB and CRCB wound down, pushing many to plan a return back to the workforce. New targeted support programs were announced by the federal government but have yet to be released.