February 2010
- Thread starter Ally
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Job prospects remain positive
Employment prospects in Saskatoon and Regina are positive in the near future, according to a report released Friday by the Conference Board of Canada.
The report, which is based on an analysis of how many jobs are available on help-wanted lists across the country, said the prospects for increased employment in the near future (three to six months) are up in 10 major metropolitan areas across Canada, down in 15 other cities and stable in two other areas.
Alan Arcand, an economist with the conference board, said the positive job prognosis for the metropolitan areas of Regina and Saskatoon is not surprising because it is consistent with a wide variety of other reports indicating Saskatchewan`s economy has done fairly well, despite the tough economic times faced elsewhere.
Arcand said he is not unduly concerned by the report`s conclusions that employment prospects are down in more cities than they are up.
"Things are picking up" in the Canadian economy, he said.
But employment growth "is a lagging indicator," he said. Other elements of the economy often begin to improve when a recession is ending before an increase in actual employment occurs, he explained.
Read the full article here.
Employment prospects in Saskatoon and Regina are positive in the near future, according to a report released Friday by the Conference Board of Canada.
The report, which is based on an analysis of how many jobs are available on help-wanted lists across the country, said the prospects for increased employment in the near future (three to six months) are up in 10 major metropolitan areas across Canada, down in 15 other cities and stable in two other areas.
Alan Arcand, an economist with the conference board, said the positive job prognosis for the metropolitan areas of Regina and Saskatoon is not surprising because it is consistent with a wide variety of other reports indicating Saskatchewan`s economy has done fairly well, despite the tough economic times faced elsewhere.
Arcand said he is not unduly concerned by the report`s conclusions that employment prospects are down in more cities than they are up.
"Things are picking up" in the Canadian economy, he said.
But employment growth "is a lagging indicator," he said. Other elements of the economy often begin to improve when a recession is ending before an increase in actual employment occurs, he explained.
Read the full article here.
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Saskatchewan forecast to lead nation in growth
A rebound in resource and agricultural commodities will propel Saskatchewan`s economy to the front of the provincial pack this year, says a new report from CIBC World Markets Inc.
"Expect Saskatchewan to lead all provinces in 2010," Warren Lovely, senior economist, said in CIBC`s latest Economic Insights report. CIBC expects GDP growth in the province to climb three per cent in 2010 and 4.1 per cent in 2011.
"Saskatchewan entered 2010 with considerable potential," said Lovely, adding the province boasted a 1.5 per cent increase in employment and the country`s lowest jobless growth last year.
"Being closer to full employment, wage growth leads the nation, auguring well for future consumer demand. Solid job prospects will continue to spur in-migration, with population growth stronger than at any time in the past 30 years," Lovely said.
In addition to a resurgence in demand for commodities, last year`s cooling in overheated housing markets, wages and material costs is driving economic renewal in the province.
Read the full article here.
A rebound in resource and agricultural commodities will propel Saskatchewan`s economy to the front of the provincial pack this year, says a new report from CIBC World Markets Inc.
"Expect Saskatchewan to lead all provinces in 2010," Warren Lovely, senior economist, said in CIBC`s latest Economic Insights report. CIBC expects GDP growth in the province to climb three per cent in 2010 and 4.1 per cent in 2011.
"Saskatchewan entered 2010 with considerable potential," said Lovely, adding the province boasted a 1.5 per cent increase in employment and the country`s lowest jobless growth last year.
"Being closer to full employment, wage growth leads the nation, auguring well for future consumer demand. Solid job prospects will continue to spur in-migration, with population growth stronger than at any time in the past 30 years," Lovely said.
In addition to a resurgence in demand for commodities, last year`s cooling in overheated housing markets, wages and material costs is driving economic renewal in the province.
Read the full article here.
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Vacancy rates low as demand rises
The city`s industrial vacancy rate is at an 11-year low, according to one industry official, and the demand for space is escalating.
In most markets, that would likely lead to a surge in new construction and a spike in lease rates. But not in Winnipeg, according to local forecasters.
Wayne Johnson, who publishes a twice-yearly report on commercial sales and leasing in Winnipeg (The Johnson Report), and the president of Colliers Pratt McGarry, which recently issued its 2009 year-end industrial market report, both predict only a modest increase in new construction and lease rates in 2010.
Wayne Pratt said the high cost of new construction will discourage developers from adding a lot of new space in 2010. He said developers need to charge about $10 a square foot to cover their construction costs and most tenants aren`t prepared to pay that when the average lease rate in the city is hovering around $5.25.
And without a bunch of new space, there`s no reason for a big jump in lease rates, he and Johnson said.
Pratt wouldn`t predict how much rates are likely to increase this year, saying only, "It`s not going to be a dramatic rise." Johnson, who is a commercial and leasing specialist with Royal LePage Dynamic Real Estate, said he wouldn`t be surprised to see rates climb by five per cent, which would be similar to last year`s increase.
But even a five per cent hike would seem vibrant compared to what`s been happening in the city`s sluggish office market, where Class A rates have remained relatively unchanged for the last 20 years. And as reported here last week, they aren`t expected to change much this year, either.
Read the full article here.
The city`s industrial vacancy rate is at an 11-year low, according to one industry official, and the demand for space is escalating.
In most markets, that would likely lead to a surge in new construction and a spike in lease rates. But not in Winnipeg, according to local forecasters.
Wayne Johnson, who publishes a twice-yearly report on commercial sales and leasing in Winnipeg (The Johnson Report), and the president of Colliers Pratt McGarry, which recently issued its 2009 year-end industrial market report, both predict only a modest increase in new construction and lease rates in 2010.
Wayne Pratt said the high cost of new construction will discourage developers from adding a lot of new space in 2010. He said developers need to charge about $10 a square foot to cover their construction costs and most tenants aren`t prepared to pay that when the average lease rate in the city is hovering around $5.25.
And without a bunch of new space, there`s no reason for a big jump in lease rates, he and Johnson said.
Pratt wouldn`t predict how much rates are likely to increase this year, saying only, "It`s not going to be a dramatic rise." Johnson, who is a commercial and leasing specialist with Royal LePage Dynamic Real Estate, said he wouldn`t be surprised to see rates climb by five per cent, which would be similar to last year`s increase.
But even a five per cent hike would seem vibrant compared to what`s been happening in the city`s sluggish office market, where Class A rates have remained relatively unchanged for the last 20 years. And as reported here last week, they aren`t expected to change much this year, either.
Read the full article here.