As we see the end of COVID public health orders approaching, we are also seeing indications that the economy is finding its footing, quickly returning to pre-pandemic levels.
Among them is employment. We’re about ten days away from getting the June job numbers but we have some other indicators to work with. Among them is the job vacancy rate and payroll numbers.
National figures are showing, for example, that the number of people working in construction in May is now greater than we saw prior to the pandemic. So the recovery is more than complete in that sector.
Average weekly wages leveled out as more people are returning to lower-income positions which were closed down during the pandemic.
And finally vacancies. Here in Saskatchewan we had 16,000 unfilled jobs in May which is about 3.5%. There are two reasons for low vacancies – either no one is creating jobs so there is nothing to be left unfilled or we are filling the ones being created. Given that we were the only province that created jobs last month, the latter is more likely.