LEADING ECONOMIC INDICATORS

Updated March 22, 2011

• Our population is now at an all time high: 1,049,701. It has grown by 15,855 people in the past year,
making Saskatchewan the fastest growing province in Canada (+1.53 per cent). Saskatchewan’s
population has now grown by more than 55,000 people since the start of 2007 – the fastest and most
sustained period of population growth in decades.

• New employment numbers show that 515,700 people were employed in February, the second-highest
level of employment on record for the month of February. Full-time jobs were up by 2,400. Private sector
jobs increased by 5,200.

• Saskatchewan’s unemployment rate (seasonally-unadjusted) now stands at 6.1 per cent, the third-lowest
rate in Canada and well below the national rate of 8.0 percent. (Note: The seasonally-adjusted rate is
5.7 per cent, the second-lowest rate in Canada (tied with Alberta), and well below the national rate of 7.8
per cent).

• Saskatchewan’s average weekly earnings (including overtime) increased by 5.1 per cent in 2010,
compared to 2009, the highest percentage increase among the provinces. The national average was up
by 3.6 per cent during this period. Saskatchewan’s average weekly earnings of $845.86 in 2010 were
third-highest in Canada (behind Alberta and Ontario) and near the national average of $853.27.

• The value of building permits issued in Saskatchewan increased in January 2011, by 95.6 per cent,
compared to January 2010, the highest percentage increase among the provinces. Nationally, permits
were down 3.5 per cent in this period (with declines recorded in five provinces). In 2010, the value of
building permits in the province was up by 9.9%, compared to 2009. The 2010 value ($2.1 billion) was
the second best year on record – slightly behind the $2.2 billion recorded in 2008.

• Residential building permits in Saskatchewan were up by 76.7 per cent between January 2010 and
January 2011 (ranked first among the provinces), while non-residential permits were up 110.6 per cent
(ranked second).

• In February 2011, housing starts in Saskatchewan’s urban centres were up by 115 per cent, compared to
February 2010 (ranked second among the provinces in terms of percentage change). There were
decreases in eight provinces in this period, and the national average was down by 7 per cent. Multiple
units (condos, apartments, etc.) were up by 231 per cent (from 102 units to 338 units), and single-family
dwellings increased by 25 per cent (from 132 units to 165 units). In the same period, housing starts in
Regina were up by 106 per cent, and up 168 per cent in Saskatoon.

• RBC estimates Saskatchewan’s economy grew by 4.5 percent in 2010, the second-highest rate of
economic growth in the country in 2010. RBC is also forecasting growth rates of 4.9 per cent and 5.3 per
cent for 2011 and 2012, respectively, the highest rates of economic growth among the provinces in both
years. RBC expects employment to grow by more than 2 per cent each year (on average), or by about
10,000 jobs in 2011 and 12,000 jobs in 2012.
• The Conference Board is forecasting that Saskatchewan will lead the country with growth rates of 3.9 per
cent and 4.5 per cent in 2011 and 2012, respectively. TD Bank forecasts Saskatchewan’s economy to
grow by 4.3 per cent and 3.0 per cent in 2011 and 2012, respectively, second-highest growth rates in
both years. Six of nine private sector forecasters agree that Saskatchewan will be first in growth next
year; two say second.

• The Fraser Institute’s “Canadian Provincial Investment Climate 2010 Report” ranks Saskatchewan
second among the provinces for 2010 with a score of 6.4 out of 10 (behind Alberta at 8.1, and ahead of
BC at 5.6). Saskatchewan’s investment climate was ranked second for the second consecutive year,
which compares favourably with a sixth place showing in 2005.

• Saskatchewan jumped from eighth to second place (behind Alberta) in the ranking of best performing
labour markets prepared annually by the Fraser Institute (second in Canada, third in North America).

• Saskatchewan was rated the third-best mining investment jurisdiction in the world by the Fraser Institute
in the international Annual Survey of Mining Companies 2010/2011. In 2009/2010, Saskatchewan ranked
sixth.

• Saskatchewan leads the West in supporting entrepreneurship, according to a CFIB survey, with 79 per
cent of Saskatchewan small businesses being confident their provincial government has a vision that
supports small business, compared to 56 per cent of small businesses in BC, 44 per cent in Alberta and
only 21 per cent in Manitoba. Saskatchewan also had the highest percentage of businesses (89 per cent)
who said they would recommend starting a business within their province.

• Saskatchewan was the only province to receive a 10 out of 10 by a Fraser Institute study in 2010 for
having the lowest cost of regulations. The study was based on a survey by the CFIB.

• According to the most recent CFIB rankings, Saskatchewan has three of Canada’s top ten
entrepreneurial cities – Saskatoon, Lloydminster and Prince Albert.

• Saskatchewan’s resurgent oil and gas industry had its best December sale ever of Crown petroleum and
natural gas rights ($56.6 million). This boosted year-end land sale revenue to $463 million, making 2010
the second-best year on record.

• Drilling numbers compiled by the Ministry of Energy and Resources show that 2,730 oil wells were drilled
in 2010 – an increase of 70 per cent over 2009 and above the five-year average (2,360). The number of
horizontal wells drilled (1,531) increased by 88 per cent from 2009, setting a new record for the drilling of
horizontal oil wells in the province.

• According to the Petroleum Services Association of Canada (PSAC), oil and gas drilling in Saskatchewan
is expected to increase by 11 percent to 3,075 wells in 2011, compared to 2010 – the highest percentage
increase among the four producing provinces. The Calgary-based organization said rising oil prices and
the Bakken light oil play in southeastern Saskatchewan were the main reasons for the double-digit
increase in Saskatchewan’s forecasted drilling activity.

• Private and public investment in Saskatchewan is expected to reach a record $17 billion in 2011. This is
a 7.2 percent increase over 2010 and the second highest percentage increase in the nation. This will
also mark the fourth consecutive year that new investment in Saskatchewan exceeds the $14B mark.

• Saskatchewan’s private sector investment is projected to reach $13.5 billion in 2011, an increase of 4.0
per cent over 2010 ($13 billion). Public sector investment is projected to grow by 21.9 percent in 2011 to
$3.5 billion.

• In January 2011, compared to January 2010, manufacturing shipments in Saskatchewan increased by

6.3 per cent. In 2010, shipments decreased by 2.5 per cent, compared to 2009. In this period,
Saskatchewan ranked ninth among the provinces in terms of percentage change.
• Saskatchewan had a 4.9 per cent increase in international exports between January 2010 and January
2011, ranking sixth among the provinces in terms of percentage change. In 2010, exports of goods were
up by 10.4 per cent over 2009.

• In January 2011, new motor vehicle sales in Saskatchewan increased by 4.6 per cent, compared to
January 2010, the fourth-highest percentage increase in Canada. In 2010, sales were up 6.0 per cent (to
47,601 vehicles), compared to 2009.

• Wholesale trade in Saskatchewan increased by 22.5 per cent between January 2010 and January 2011,
highest percentage increase among the provinces. In 2010, wholesale trade increased by 9.3 per cent,
compared to 2009 (ranked sixth among the provinces).

• In January 2011, compared to January 2010, retail sales were up by 5.7 per cent. Saskatchewan ranked
first in percentage growth among the provinces. In 2010, retail trade increased by 2.7 per cent, compared
to 2009.

• The number of regular employment insurance beneficiaries in Saskatchewan dropped by 2.5 per cent
between November 2010 and December 2010 (seasonally-adjusted). This was the fifth-best percentage
decrease among the provinces.