Total employment has returned to pre-pandemic levels for Canada overall, however only 3 out of 10 recorded provinces have fully recovered (Ontario, Alberta and British Columbia). Saskatchewan is close, but not yet fully recovered in employment.
Saskatoon recovered 2,000 jobs in September, replacing the job losses that occurred over the last three months. The unemployment rate fell to 7.8%, from 8.1% in August, as a result of more jobs being recovered than individuals entering the labour force.
Saskatchewan recovered 5,300 jobs in September, following gains of 10,100 in August. The provincial unemployment rate fell to 6.3% – a result of more jobs being recovered than individuals entering the labour force. Full-time positions rose by 400, and part-time positions by 4,900. Unemployment rates vary across the prairie provinces: Alberta stands at 8.1%, while Manitoba has a rate of 5.6%. Both Manitoba’s and Saskatchewan’s unemployment rates are very close to pre-pandemic levels.
An important deadline for key federal support programs is fast approaching. On October 23rd, CRB, CRSB and CRCB are due to end, driving many to return to the workforce or find an alternative source of income.
The economy also continues to face a labour shortage. With rising COVID-19 Delta variant cases, BDC’s latest report forecasts that shortages will continue to impact the Canadian economy.
With vaccine mandates coming into effect for businesses, employees returning to the office and some employers requiring that employees be vaccinated, employment numbers in the coming months will be crucial to watch.