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TrendLine Saskatchewan

 


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TrendLine Saskatchewan - September 2020

Apartment construction continues to surge, while all other major indicators remain in decline...

Stephen Johnson

MA
Senior Economist

August 2020 saw a year-over-year (August 2020 vs. August 2019) decline in the number of employed by -26,000. This represents a slowing in job losses compared to previous months: a -76,300 decline in April (vs. April 2019), a decline of -73,400 in May (vs. May 2019), a decline of -43,600 in June (vs. June 2019), and a further decline of -28,500 in July (vs. July 2019). Total average year-to-date employment in Saskatchewan was down by -5.6% or -32,187 positions in August 2020 over the same period in 2019. Similar to employment, all other major indicators were also in decline: building permits, retail trade, manufacturing sales, new motor vehicles sales, wholesale trade, and restaurant receipts. The only exceptions were net international exports (with imports declining faster than exports), and housing starts, owing to an unexpected surge in apartment construction.

Composite Indicator Actual & Seasonally Adjusted

Key Indicator This Month

Employment

5.6%

August 2020 YTD

Employment

5.6%

August 2020 YTD

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This Issue's Economist:

Stephen Johnson

MA
Senior Economist

This Issue's Editor:

Jennifer Longo

BAH, MBA
Strategic Research Consultant


TrendLine Saskatchewan is published monthly by Praxis Consulting.