Western Canada will continue it two-decade long dominance of Canadian economic growth. That comes from the latest forecast issued by ScotiaBank which has some upbeat notes for Saskatchewan’s outlook over the next couple years.
First of all, ScotiaBank says the West has outperformed the rest of the country for years and there are no signs of retreat as we boast, in their words, ‘an unequivocal labor advantage.’
We have a younger workforce than the rest of the country so retirements are not creating labor shortages seen in other regions. Plus, immigrants have much more luck here, finding employment more quickly than elsewhere.
This is because we utilize the provincial nominee program to select immigrants with skills that are in demand. Roughly 80-percent of international arrivals come to Saskatchewan through the program compared to just 10-percent in Ontario.
We are also more productive. Strong investment in the oil and gas sector, agriculture and mining has made Saskatchewan more efficient at a time when the rest of the country is headed in the other direction.
