Great news on the economic front from Statistics Canada - retail sales are up and the number of people collecting employment insurance is down.
"There are connections to both of these economic indicators that make sense," Economy Minister Bill Boyd said. "When you have more people in the workforce, there is more money out there to be spent. Both of these indicators are bolstering a Saskatchewan economy that is creating jobs, supporting new and expanding businesses and improving quality of life."
Retail sales were up 6.9 per cent in April 2012 over April last year, twice the national average of 3.4 per cent. On a monthly basis, retail sales increased by 0.7 per cent between March 2012 and April 2012, the third highest increase among the provinces and well ahead of the 0.5 decline on a national front. April retail sales totalled $1.4 billion, the highest ever on record for the month of April.
The number of Employment Insurance (EI) recipients is down by 6.4 per cent between March 2012 and April 2012. Annually, the number of EI recipients dropped by 15 per cent. Only 9,220 people collected EI in Saskatchewan in the month of April.
"These are record retail numbers, and are up for the third straight month," Boyd said. "The rising consumer confidence, the new opportunities that are expanding our workforce and other positive signs are making sure Saskatchewan's economy continues to grow."
