Paul Martin Commentary
The month of February was a tough one on the employment front.
National job numbers were negative – down 84,000 – in a month when economists were expecting an increase, not a decline. It was a similar story here in Saskatchewan. We lost 5,500 positions in the month. That pace was twice the rate seen nationally.
Now, the monthly labor force survey is notorious for its volatility. In January, for example, Saskatchewan saw an increase of 6,100. So, if you look at it over two months, we’re ahead by 600.
This monthly report also looks at some of the dynamics surrounding the labor market: how many people were looking for work, new entrants or departures and so on. In February, the working age population in Saskatchewan rose by 1,200 but the number actually looking for work dropped by nearly 4,000.
That dynamic pushed the unemployment upwards by three-tenths of a point. At 5.6-percent it is still the lowest in the country and the number of full-time jobs rose by 16,000 in the past year.
