August 2014 Prairie Economic Fundamentals

Ally

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#2
Job vacancy rates high in Saskatchewan





Job vacancy rates in Saskatchewan continue to hover near the top of the country.





The Canadian Federation of Independent Business says in the first quarter of 2014, around 12 thousand 500 jobs were unfilled in the province, leading to a vacancy rate of 3-point-6. Only Alberta has a higher rate than Saskatchewan.





Marilyn Braun-Pollon with CFIB says in their monthly Business Barometer checks with businesses in the province, the one concern employers have is a lack of skilled workers. About 37 percent of members in the most recent Business Barometer have a concern with a lack of skilled workers.





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Ally

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#3
Manitoba renters to be compensated for certain moving costs under new rules





WINNIPEG - Renters in Manitoba will be compensated for moving costs and higher rental fees when landlords carry out major renovations intended to drive them out, starting next year.





Consumer Protection Minister Ron Lemieux announced Thursday that the new rules will come into effect Jan. 1.





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Ally

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#4
Is momentum shifting in Saskatoon's hot real estate market?





SASKATOON ` Saskatoon`s economy remains strong which is translating to movement in the real estate market.





Experts say it is healthy and balanced but is the momentum still with the sellers or has it shifted to buyers?





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Ally

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#5
Database maps Saskatoon, Regina violent crime sites by address





It's the latest tool for Saskatchewan homebuyers ` with a macabre twist.





The website www.housecreep.com is a national database of "stigmatized properties." Plug an address into its search engine and a property's unsavoury history emerges.





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Ally

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#6
Regina making strides in city's vacancy rate





REGINA ` Regina continues to make small gains in its efforts to increase its vacancy rate.





A report presented to the Mayor`s Housing Commission yesterday showed the spring vacancy rate rose to 2.5 per cent, up from 1.8 per cent.





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Ally

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#7
Off switch hit at Saskatchewan wood-burning power generation plant





PRINCE ALBERT, Sask. - A low-quality fuel source has led to the temporary shelving of a project that generates electricity from old wood at a shuttered pulp mill near Prince Albert, Sask.





Since early 2012, Paper Excellence, through its Prince Albert Pulp Inc., subsidiary, has been using existing boiler and turbo-generator equipment at the mill to burn waste wood for creation of electricity that's distributed on the provincial power grid.





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Ally

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#8
Saskatchewan's unemployment rate reaches all-time low








OTTAWA ` Saskatchewan`s unemployment rate has hit an all-time low but not because of increased employment.





Statistics Canada reported Friday the unemployment rate in the province was 3.3 per cent in July, a decline of 0.6 percentage points from June.





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Ally

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#9
Employment in Manitoba rises by 5,200 in July





Only 200 net new jobs were added across the country during July, but in Manitoba employment rose by 5,200.





Manitoba was one of the few bright spots in Statistics Canada`s monthly labour force survey as the additional jobs pushed the province`s unemployment rate down 0.3 per cent to 5.1 per cent.





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Ally

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#10
July 2014 housing starts in Regina





REGINA, SASKATCHEWAN`(Marketwired ` Aug. 11, 2014) -
Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 2,353 units in July compared to 1,959 in June, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup](1)[/sup] of total housing starts.





`The trend in total housing starts moved higher in July after local home builders increased production of multi-family units. The upward shift was supported by an increase in apartment starts for rental tenure, which more than offset the decline in single-detached starts,` said Pichu Kalyniuk, CMHC Market Analyst for the Prairie and Territories Region.





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Ally

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#11
July breaks Winnipeg real estate record





It wasn't just the temperatures - Julywas another hot month for this city's real estate market.





Winnipeg set new records for both sales and dollar volumes.





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Ally

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#12
Winnipeg in a building boom




If you gauge the growth of a city by its construction activity, Winnipeg is booming.




The city has been enjoying a steady rate of improvement the last few years, particularly building new condos and apartment buildings. "The value of construction and number of units added have been on the rise, and the permits worth at least $1 million that were approved in 2014 show that more big things are on the way.





There were 25% more permits issued this past June than there were in June 2013. There was also 170% more in value of apartment building permits (14,600 to 5,400)





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Ally

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#13
Saskatchewan unemployment low





Unemployment in Saskatchewan hit a historic low in July, clocking-in at 3.3 per cent (seasonally adjusted). This is the lowest unemployment rate on record for the province since Statistics Canada started recording employment data in 1976. The last time Saskatchewan`s unemployment rate dipped to an all-time low was in April 2014, at 3.4 per cent.






`Our impressively low unemployment rate is the highlight of today`s report,` Agriculture Minister Lyle Stewart said on behalf of Associate Minister of the Economy Jeremy Harrison. `Saskatchewan`s rate of unemployment is now lower than every other province in the nation, and 49 of 50 American states. Only North Dakota has a lower unemployment rate at 2.7 per cent.`





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Ally

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#14
Regina's commercial vacancy rate climbs





Regina's vacancy rate for commercial offices has climbed, along with most markets in Canada.






An office market report by Avison Young shows the Queen City recorded the biggest swing in commercial vacancy rates this year after having the one of the lowest in the country.





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Ally

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#15
Saskatchewan's finances remain on track despite flooding costs





REGINA ` The province of Saskatchewan announced on Thursday that their provincial budget surplus is still intact, despite $150 million allowance for flood related costs.





The projected surplus is now $75 million, up $3.5 million from when the budget was announced, largely because of a projected increase in total revenue of $169 million.





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Ally

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#16
New StatsCan report finds Manitoba job gains not as high as thought





It turns out Manitoba didn`t do so well on the job-creation front last month, according to revised Statistics Canada data released today.





The agency`s new July labour force report data shows Manitoba had a net gain of 1,700 jobs from June to July, not the 5,200 reported last week.





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Ally

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#17
Former factory, livestock building being converted into apartments





Two more downtown buildings are being converted into rental apartments -- both by the developer of one of the area's high-profile new condominium developments.





Sandhu Developments Ltd., which earlier this month broke ground on its $34-million D Condo complex on Assiniboine Avenue, is converting the six-storey former Bemis Bag Building at 311 Alexander Ave. into 88 apartments and the five-storey former Adelaide Mini Storage building at 49 Adelaide St. into 51 rental units.





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Ally

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#18
Flood not affecting Saskatchewan budget





Finance Minister Ken Krawetz has said the provincial budget surplus remains intact, even with a $150 million allowance for flood related costs. Krawetz released the First Quarter Financial Report today.






The projected surplus is $75 million, up $3.5 million from budget, despite the flood allowance, largely due to a projected increase in total revenue of $169 million.





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Ally

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#19
Winnipeg's credit outlook negative: Moody's





The City of Winnipeg and the Province of Manitoba have now both been saddled with a negative rating from Moody`s Investor Services.





The international credit-rating service downgraded the city`s outlook from stable to negative on Wednesday afternoon, a mere four days after they issued the same downgrade to the province.





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Ally

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#20
Manitoba improves protection for tenants and landlords





Changes to the Residential Tenancies Amendment Act were proclaimed earlier this month and will offer new protection for renters, while reducing paperwork and red tape for landlords, Tourism, Culture, Heritage, Sport and Consumer Protection Minister Ron Lemieux announced.





`We consulted landlords and tenants on this bill to ensure fairness and transparency, and I feel confident these changes address long-standing grievances from both sides,` said Minister Lemieux.





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