March 2014 Prairie Economic Fundamentals

Ally

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#2
Affordable housing builds underway in Prince Albert, but nothing planned beyond





With nearly 80 affordable housing projects in the works in Prince Albert, the province is on the lookout for potential new projects, but has no upcoming construction plans on the horizon.





Tim Gross, executive director of housing development in the ministry of social services, said they have completed or are working on 266 units in Prince Albert alone. But he also pointed to the 10 per cent vacancy rate identified by the Canada Mortgage Housing Corporation in October.





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Ally

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#3
Saskatchewan labour market hit record levels in February





Saskatchewan`s labour market remains strong and hit records last February.





The province had the lowest lowest seasonally-adjusted unemployment rate in Canada last month at 3.9 per cent compared to the national average of seven per cent, according to a news release.





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Ally

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#4
Manitoba loses jobs in February





The Manitoba economy had net loss of 1,700 jobs in February but the provincial unemployment rate still dropped to 5.3 per cent due to the exodus of 4,300 workers from the labour force, Statistics Canada said today.





In its monthly labour force report, the agency said that while the Manitoba economy created 4,100 new part-time jobs in February, it also shed 5,700 full-time positions, for a net loss of 1,700 jobs (rounded off).





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Ally

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#5
Regina jobless rate plunges to 2.9%





With a jobless rate of 2.9 per cent, Regina now has the lowest urban unemployment rate in Canada, if not North America - part of the latest job report that also shows Saskatchewan wages are now the second highest in the country and youth unemployment is the lowest.





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Ally

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#6
Job market outperforms country





The Saskatchewan labour market continues to perform, hitting record levels for the month of February. There were 551,600 people employed in the province in February, up 5,400 from last year (1.0 per cent) the second highest growth rate in the country. Full time employment was up 8,100 from last year.






`In spite of some very nasty weather in February, Saskatchewan`s job market continues to out-perform most other Canadian jurisdictions,` Economy Minister Bill Boyd said. `Most of the other provinces have been struggling with volatile labour markets over the last several months due to a variety of circumstances, yet we have been able to make some steady gains, particularly in full time jobs.`





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Ally

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#7
Highlights of Manitoba budget





WINNIPEG - Highlights of the Manitoba budget:


Bonus for employers who take on apprentices for first time.___


Low-cost loans to help people buy winter tires.___


$5.5 million to boost child-care spaces and improve wages.___





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Ally

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#8
Saskatchewan economy fourth in economic growth





However, Alberta finds itself in an enviable position. Both its exports and domestic economy are expanding rapidly and the province is expected to have the fastest growing provincial economy this year, according to The Conference Board of Canada's Provincial Outlook - Winter 2014.


"The economic outlook for the rest of the provinces is mixed. Solid growth in the U.S. economy and a slightly weaker Canadian dollar will help exporters, but growth prospects in the resources sector are uneven across the country," said Marie-Christine Bernard, Associate Director, Provincial Forecast.





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Ally

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#9
Manitoba's economic growth forecast lowered again





For the second time in two days, a leading forecaster has lowered its 2014 economic-growth projection for Manitoba.





In its latest quarterly Provincial Outlook report released today, the Conference Board of Canada predicts the Manitoba economy will grow by 1.8 per cent this year. That`s down from the two per cent growth it was forecasting back in December.





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Ally

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#10
Layoffs coming for Advance Engineering employees in Saskatoon, Regina





SASKATOON ` A Saskatoon metal fabrication plant is closing its doors, throwing 49 people out of a job.





Advance Engineering Products told employees last week it planned to close the Saskatoon plant on May 14 and cut 78 jobs at its production plant in Regina.





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