Normally, hot spot isn't the first phrase that comes to mind when talking about Saskatchewan, Canada. But with most of Canada suffering from devastating job losses, this cold province is becoming exactly that
Normally, hot spot isn't the first phrase that comes to mind when talking about Saskatchewan, Canada. But with most of Canada suffering from devastating job losses, this cold province is becoming exactly that.
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It's an asterisk to the entire country when it comes to the economic climate, and Premier Brad Wall is shouting it as loud as he can.
"It's a great time to come to Saskatchewan," said Wall, touting his province's economic success.
"For those who are losing their jobs, we need them to know we have thousands of jobs open right now in both the private and public sector," said Wall. "We have a powerful story to tell, a story of success and that's something we want to share with those who are struggling."
Wall's province is one of the exceptions to the unemployment increases battering provinces across Canada. Saskatchewan's unemployment rate fell to 4.1 per cent in January from 4.2 per cent in December, making it the only province recording a decline. In Ontario and Toronto, unemployment rates rose to 7.2 per cent and 8.5 per cent respectively. To the west, British Columbia shed 68,000 full-time jobs in January.
More Saskatchewan jobs should be on the way. To stave off any possible recession, Wall announced a $500 million infrastructure "booster shot" to help keep the economy strong.
"All across the country, industries are getting quite ill," Wall said. "We aren't immune to it. We see some impacts in terms of layoffs and new vehicle purchases slowing off, and so we want to be proactive in staying ahead of the curve."
On Tuesday, the Conference Board of Canada released a report that said Saskatchewan will likely continue to lead the nation in economic growth in 2009 because of the infrastructure investment and tax reductions.
The province has also been reaping the benefits of an influx from nearby Alberta. When the government in Alberta decided to raise the oil royalty rates, oil exploration and expedition companies decided to move their operations to Saskatchewan in hopes of making more money.
With the province's growing opportunities, David Montgomery, president of Calgary's Qwest Haven Relocation Services, said he is moving more people to Saskatchewan each day.
Montgomery said people looking to move have said that cheaper land and insurance prices are among the other reasons they are headed to Saskatchewan.
On Tuesday night there were nearly 6,000 private- and public-sector jobs on the Web site Saskjobs.ca.
A constant stream of revenue from oil production and exports also buoys the economy in the province. Saskatchewan is the largest producer of oil in Canada and exports more oil to the US than Kuwait. It is the leader in uranium production and produces a third of the world's potash.
Wall, however, cautioned that it is possible his province may see economic stress, just later in the game than other places. "We need to be circumspect and prudent about promoting our province," he said. "We are not immune; we do see the impacts."
But he was quick to add, "It's a beautiful, big place where life is great and right now there's also opportunity... I'm very, very biased, but I can't imagine a place I'd rather be, especially with what's going on economically around the world."
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