OTTAWA – Saskatchewan’s economy shed 11,500 full-time jobs in January 2015. Statistics Canada that number was offset by the creation of 3,100 part-time jobs.
Labour force numbers were also down in Saskatchewan compared to the previous month, with 4,200 less people in the work force.
Only two provinces lost jobs in January – Saskatchewan and Nova Scotia. “The former,” said BMO chief economist Doug Porter, “is the second largest oil producer in the country.”
The Saskatchewan government said it was not surprised by job losses in the oil sector.
“We know the effect of low oil prices will be felt by Saskatchewan’s economy and labour market, and this month’s employment losses reflect that,” said Jeremy Harrison, the minister responsible for immigration, jobs, skills and training.
The Opposition NDP says the latest job numbers are discouraging.
“When we’re losing full-time jobs at a time when both of our neighbouring provinces are seeing huge increases in full-time jobs, that’s a big concern,” said Warren McCall, the NDP critic for advanced education.
“This government needs to get serious about promoting and supporting local businesses and ensuring our prosperity is sustainable.”
Nationally, energy sector jobs declined by 9,000, “a sign of things to come,” said Avery Shenfeld, chief economist at the Canadian Imperial Bank of Commerce.
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Harrison said the province’s economy is more diversified and can withstand the drop in crude prices.
“Saskatchewan’s economy has faced other challenging times in recent years, such as 2009, when oil prices fell and potash sales virtually disappeared,” said Harrison, who noted the province still led the country in creating jobs during that time.
Although unemployment rose 0.8 percentage points to 4.5 per cent, it was tied for the lowest in the country with Alberta.
Nationally, the unemployment rate dropped to 6.6 per cent with 35,000 new jobs created, mainly part-time and self-employed positions.
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