Building Construction Up 56.2 Per Cent in Saskatchewan, Leading Nation in Year-Over-Year Growth

On 14th November, Statistics Canada released September 2022 investment in building construction numbers, showing Saskatchewan with a 56.2 per cent increase compared to September 2021, ranking first in the nation in terms of percentage change.

“Saskatchewan’s economy is showing continued growth with record investments and developments in our province,” Trade and Export Minister Jeremy Harrison said. “Saskatchewan’s economy is one of the most competitive in the nation, and these numbers are further proof that our province remains the best place to work, live and do business in Canada.”

The province also saw increases to non-residential building construction, which was up 3.0 per cent (seasonally adjusted) in September 2022 from August 2022.

The value of building construction investments in September 2022 was $445 million.

Saskatchewan continues to lead the nation in several other key economic indicators in recent months. In August 2022, the value of wholesale trade jumped by 73.7 per cent compared to August 2021, while manufacturing sales rose 28.9 per cent during the same period. Recent Labour Force Survey numbers also show Saskatchewan’s strong economic growth, with 581,400 people employed in October 2022, representing an increase of 18,600 jobs (3.3 per cent) compared to October 2021. The province’s unemployment rate has reached 4.6 per cent, tied for third lowest among provinces, and below the national average of 5.2 per cent (seasonally adjusted).