Mr. Speaker, it has been nearly one year of COVID-19 economic restrictions in the territory. Over the past year, the NWT's unemployment rate remains the lowest among all Canadian jurisdictions; however, a significant amount of our workforce growth was due to the growth of the public service.
Mr. Speaker, I am thankful that the NWT was able to grow at a time when many around the world were losing jobs, homes, and loved ones, but the fact is growth of the public sector alone is not an indicator of a healthy economic environment, and I remain concerned about the future projection of our territorial economy. The GNWT depends on a vibrant private sector. We need private business owners to flourish and every opportunity between the corporate world down to home-based small businesses to serve our GNWT operations. It is a symbiotic relationship. The government needs businesses to provide services, and the health of the private sector is largely affected by the GNWT's ability to spend locally. Without a healthy northern private sector, we can expect residents to move south to find a home base with a lower cost of living, where they will continue to compete for the same northern contracts with less overhead. This kind of exodus will further reduce our federal transfer payments, the very payments that fund our government operations.
The best job security for a robust public service is a thriving business sector, and every department has the potential to ensure northern businesses are prioritized over southern ones. Every department has the onus to look for ways to support business creation and business opportunity in the North. Without a growing private sector, Mr. Speaker, our now-inflated public service will eventually need to shrink. March is the busiest contracting month in many departments, where targeted tenders head out in an effort to spend remaining department budgets. We can deny it happens, but we all know it does. As you look to spend your remaining budgets, I implore public servants to exclusively support northern businesses. You have the control to support northern and buy local. You have the power to grow our entrepreneurs and the private sector that supports our children's sports teams, and you have the power to support your own job security. Thank you, Mr. Speaker.