2017 February Building Permits Report
Non-residential building permits in February presented the best news for the construction sector since June 2016. Permits were up 111% from the previous February. Albeit most of this increase is driven by a single industrial project, the fact is a clear pattern is emerging in the recent numbers: they are no longer trending downward. Saskatchewan’s economy appears to be stabilizing and meeting the anticipated growth projected for 2017. Permits are up 73% year-to-date in 2017 with February alone up 46% in Commercial, 19% in Institutional and 761% in Industrial. While Regina’s permits declined 47%, Saskatoon increased by 170% and the rest of the province saw a tenfold increase to $56 million compared to $5 million last February.
Read the full February Building Permits Report.
2017 March Labour Force Report
Construction employment in Saskatchewan continues its downward trend with a rate 9.2% below where it was in March 2016, marking 25 consecutive months of declining year-over-year employment numbers. Engineering and heavy construction took the heaviest hit. Employment was down marginally in Regina and Saskatoon, up in Southwest and East Central Saskatchewan and down everywhere else. Construction wages have declined by 3.9% in the first quarter of 2017 and are down compared to 2016. Given recent trends in Building Permits there is reason to believe employment figures will begin to trend upwards sooner rather than later.
Read the full March Labour Force Report.
These reports are prepared by the Sask Trends Monitor for the SCA.