Saskatoon’s labour and export markets are two things SREDA will be watching in Quarter Two of 2026.

CEO of SREDA, Erin Lawson, says this year’s Quarter One Spring Economic Update shows that the Saskatoon region is displaying steady GDP expansion and a strong, well supplied labour market. However, it is showing early signs of loosening.

“Our unemployment is currently at 5.9 per cent. This has been increased from the previous quarter, but still well below Canada’s 6.9 per cent unemployment rate.”

This can also signify that employers may be having a difficult time finding skilled labour.

SREDA will also be keeping a close eye on local export challenges, as they face significant declines in the metals, energy production, and transportation equipment sectors.

“There’s a lot of global uncertainty going on, and some of our major exporting partners are (making our relationship) challenging at the moment.”

Despite these factors, Lawson says Saskatoon seems to be holding its ground amid global tensions and uncertainty, remaining one of the most affordable regions to live in. She attributes this success to the diversity of our economy.

“By that I mean the industries that we are surrounded by. Whether it’s agriculture, mining, manufacturing, life sciences, as there are bumps in the global nature of industries, the Saskatoon region, because we have such a diverse group, we’re able to weather those various storms.”

Lawson adds that investment momentum is high. For example, local company Sandvik Mining and Construction has announced a $51 million expansion, and Drake Meats is relocating to Saskatoon with a $45.6 million investment and over 100 new jobs.

However, she adds that this report does not factor in current challenges with the global economy, but the Q2 update will probably display some of those impacts and what they mean locally.