Saskatchewan has one of the youngest population bases in Canada.
There is plenty of conversation in economic and political circles these days about the impact immigration is having on the country. We in Saskatchewan, for example, are currently in the middle of our biggest population expansion in a century, largely being driven by immigration.
But we don’t have much data beyond raw population numbers to assess how this is changing our economy. So, the team at CIBC Capital Markets did a deep dive into the topic to see what they could learn about changes at the provincial level.
They found the Prairies have the youngest populations and, in Saskatchewan, immigrants are finding it easier to get a job than most places. Despite what is being discussed out East where they think too many immigrants is driving up housing prices, that is not the case in Saskatchewan, the bank says. A key reason is strong investment, particularly in things such as mine expansion.
And it is same story with the cost of residential rent – it’s increased less in Saskatchewan than any other province.