April jobs up 2.0 percent from April 2022 and more...

April jobs up 2.0 percent from April 2022

May 19, 2023
No. 23-8

JUNEAU, Alaska — April’s job count was up by 6,100, or 2.0 percent, from April 2022.

All Alaska industries grew or remained flat over the year. The two sectors that gained the most jobs were the two hit hardest by pandemic losses. Leisure and hospitality employment increased by 1,900 and transportation, warehousing and utilities added 1,000. Both have exceeded pre-pandemic job levels.

The public sector added jobs over the year, led by federal government (+500). Local government, which includes public schools, was up by 400 jobs and state government by 100 jobs.

Alaska’s seasonally adjusted unemployment rate remained at 3.7 percent in April and the comparable U.S. rate was 3.4 percent.

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Alaska's Economy - 2023 presentation

Northrim Bank hosted it's annual Community Summits in Soldotna, Anchorage and Fairbanks. Additional events will be held in Juneau, Sitka and Kodiak in the fall. As part of the summit, the attached presentation was given at these events.

March jobs up 2.3 percent from March 2022

April 21, 2023
No. 23-7

JUNEAU, Alaska — March’s job count was up 2.3 percent from last March, an increase of 7,000.

All Alaska industries grew over the year except Information, which was flat. Gains were largest in leisure and hospitality (+2,000) and transportation, warehousing and utilities (+1,400), both of which sustained some of the biggest pandemic losses and are now above or approaching pre-pandemic job levels.

Oil and gas employment was up 400 over the year, to 7,400, but remains nearly 30 percent below pre-pandemic levels and less than half what it was at its all-time high of 15,300 in late 2014.

The public sector was up over the year, led by local government, which includes public schools (+300). State and federal government each added 100 jobs.

The state’s seasonally adjusted unemployment rate was 3.7 percent in March and the comparable U.S. rate was 3.5 percent. Job openings are high, and Alaska and the nation both had more available jobs than workers. In February, the most recent month available, both had about one unemployed worker for every two job openings.

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February jobs up 2.5 percent from February 2022

March 24, 2023
No. 23-5

JUNEAU, Alaska — February’s job count was up 2.5 percent from February 2022, an increase of 7,700 jobs.

Nearly all industries recorded growth. Gains were largest in transportation, warehousing and utilities (+2,300), leisure and hospitality (+2,100), and professional and business services (+700). Transportation, responsible for most of the growth in that sector, and leisure and hospitality sustained some of the biggest losses during the pandemic, but the transportation, warehousing and utilities sector is now above pre-pandemic job levels and leisure and hospitality and professional and business services are close.

The only over-the-year job loss was in manufacturing (-100), which in Alaska is mainly seafood processing and can vary considerably from year to year. Financial activities and state and federal government employment were flat over the year.

The state’s seasonally adjusted unemployment rate was 3.8 percent in February — no change from January’s revised rate — and the comparable U.S. rate was 3.6 percent, up from 3.4 percent in January.

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2023 Economic Forecast Video Series

Using data and reports from its 2023 Economic Forecast, the Anchorage Economic Development Corporation created this video series examining the variables and trends influencing Anchorage’s economic sectors.