Unemployment is on the rise in Saskatchewan.
According to a labour survey from Stats Canada, Saskatchewan lost 4200 jobs in July, and as a result, saw the provincial unemployment rate jump 0.3 percentage points to 6.6%.
Vice President at Economic Development Regina David Froh said that’s been the case here in Regina, albeit marginally.
“The unemployment in Regina is about 5.6% and that’s not bad,” he said.
Froh said the local rate is representative of a transition from a boom time to a more stable time.
But despite having a lower unemployment rate that the province of Saskatchewan, Froh said Regina had and does have it’s challenges.
“We are seeing a drop in full time jobs,” he said. “And we are seeing a drop where we want to see strong employment grades, like construction and like manufacturing.”
Upon taking a look at Saskatchewan’s unemployment rate, from Froh’s standpoint, it means structurally re-investing and re-imagining how to do economic development, something which he mentioned has three sides: diversifying the economy, investing in entrepreneurship and investing in the development of the Indigenous labour force.
“There’s no greater for the Regina and Saskatchewan economies than having more Indigenous people graduate school and work,” he said. “If we close the educational outcome gap, so if Indigenous people graduate at the same rate as non-Indigenous, that represents a greater economic impact than all the uranium and oil and mining royalties we receive as a province.”