Did you know that the average weekly wage in Saskatchewan was the third highest in Canada? In August the average weekly wage increased 3.5% to $878.07 which is above the national average. The employment force also grew by 2.5 per cent which is also above the national average of 1.6%. This means an increase of 1900 jobs from July to August and the gains were seen in areas such as health, retail, food services, etc. There were declines in construction, administration and manufacturing. The average is just slightly above national average but is the third highest among the provinces yet our cost of living is still well below some of the competition. This means that, even though our Saskatchewan real estate prices have gone up we are not out of synch with the rest of Canada. But remember that the law of averages comes into effect and if just one person out of ten makes a half a million dollars or more (as some of our big CEO’s probably do) this may drive up the ‘average’. It is all relative though so the same is true for everywhere else in Canada.
Our economy in Saskatoon is booming and there are thousands of people flocking to our city each year so that creates more jobs and should hopefully keep our average competitive. With an increased weekly earning though we are seeing increases in gas prices and food prices across Canada.
To read more about this story click here to visit the Saskatoon Star Phoenix article.
Saskatoon Real Estate Agent
Century 21 Fusion