The population of Saskatoon is currently 230,000. From 2006 to 2011 there has been a population growth of 9.7%. The population of Saskatoon, as shown in the image above, has been steadily increasing for over twenty years.
As shown is the image to the left, many citizens live in one unit houses or apartments. As well, most people own their own houses. This means that many people are planning on staying in Saskatoon on a long term as they are buying, rather than renting.
Below, one can see that Saskatoon is growing in both population and employment. Saskatoon's employed-to-unemployed ratio is very good as very little of the total population is unemployed. Along with that, the employment rate is also increasing.
To the left, is the household incomes of Saskatoon residents. As one can see, the average household income is $71,623 and the median household income is $57,945. Average family income between 1996 and 2001 was an increase of 16.8% and continues to increase. The average household size was also calculated to be 2.44.
Economic Factors
Saskatoon is the fastest Canadian province in economic growth.
The total population of Saskatoon that is over fifteen is 191, 115 people. The total population in the labour force is 133, 705. Over 120,000 are employed and less than 5,000 are unemployed with an unemployment rate of only 3.68%. Saskatchewan has the lowest unemployment rate in Canada. Saskatoon has a low unemployment rate and has been rated one of the lowest between all major Canadian cities, "Unemployment rates in Saskatoon (4.3 per cent) and Regina (4.8 per cent) rank second and third among major Canadian cities (Quebec City ranked first with a rate of 4.1 per cent). Saskatoon saw an increase of 2,400 jobs over last year." ("Saskatchewan", 2010)
"The Conference Board of Canada, known for its conservative economic forecasts, says that Saskatoon's economy will expand by 4.1 per cent this year, and will remain at the top of the economic growth leader board through 2013" ("Saskatoon Income Trust", 2012)
Inflation rate rose from 2.4 - 3.1 between august and September 2011. Only four cities Saskatchewan were lower.
As seen above, Saskatoon is a growing city and is "...forecast to lead the country in economic growth this year," ("The Conference Board", 2012) Saskatoon has consistently lead Canadian cities with an overwhelming GDP, "Saskatoon's GDP growth is forecast to be a nation-leading 3.6 per cent in 2012" ("Scott Larson", 2012)
" In 2008, the city’s gross domestic product (GDP) grew by 5.4 percent, making it the fastest growing city in the country, and the employment rate is third highest among Canadian metro regions." ("Saskatoon Speaks", 2010).
Saskatoon Region continues to lead the world as one of the fastest and diverse economies in North America World Leader in science and technology.