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

September jobs up 2.0 percent from September 2022

Oct. 20, 2023
No. 23-14

JUNEAU, Alaska — September’s statewide job count was up by 6,600, or 2.0 percent, from September 2022.

With the record cruise ship season, leisure and hospitality employment was up 1,400 from last September. Health care also added 1,400 jobs, with the strongest growth in hospitals. The professional and business services sector was up by 700 jobs and manufacturing, which is mostly seafood processing, added 600 jobs over the year.

Most Alaska industries grew, with two longstanding exceptions. The information sector and financial activities each lost 200 jobs over the year.

Government job growth was led by federal government (800). State government was down 100 jobs and local government, which includes public schools, was up by 300.

Alaska’s seasonally adjusted unemployment rate was 4.1 percent in September and the U.S. rate was 3.8 percent.

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August jobs up 1.4 percent from August 2022

Sept. 15, 2023
No. 23-13

JUNEAU, Alaska — August’s statewide job count was up by 4,800, or 1.4 percent, from August 2022.

Leisure and hospitality added 2,000 jobs over the year amid a record season for cruise ship visitors. Health care added 900 jobs followed by construction (600), oil and gas (400) and professional and business services (400).

Most Alaska industries grew or remained flat, with several exceptions. Information and financial activities were down 100 jobs each over the year and manufacturing, which is primarily seafood processing, had 400 fewer jobs.

Government job growth was led by federal government (900). State government was up 200 jobs and local government, which includes public schools, was flat.

Alaska’s seasonally adjusted unemployment rate was 3.9 percent in August and the U.S. rate was 3.8 percent.

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July jobs up 1.0 percent from July 2022

August 18, 2023
No. 23-11

JUNEAU, Alaska — July’s statewide job count was up by 3,600, or 1.0 percent, from July 2022.

Leisure and hospitality added 2,100 jobs over the year, benefitting from a record-setting number of cruise ship visitors. Health care added 600 jobs, followed by oil and gas (400) and professional and business services (400).

Most Alaska industries grew or remained flat with three exceptions. Manufacturing, which is primarily seafood processing in Alaska, was down 1,900 jobs over the year. July is the peak employment month due to salmon harvesting, but both harvest and processing volume can vary considerably year to year. Information and financial activities were down 100 each over the year.

The federal government’s job count was up 600 from July 2022. Local government, which includes public schools, was up by 400 jobs, and state government, which includes the University of Alaska, was up by 300.

Alaska’s seasonally adjusted unemployment rate was 3.8 percent in July and the comparable U.S. rate was 3.5 percent.

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AEDC 3-Year Outlook Luncheon

The Anchorage Economic Development Corporation (AEDC) hosted its annual 3-Year Outlook luncheon on Wednesday. The event featured updates from the AEDC board and staff, Mayor Bronson and Keynote speaker Mick Cornett.

As it was in 2022, the tone was optimistic. There are definite bright spots in the Anchorage economy even though AEDC President and CEO, Bill Popp noted that we are at a crossroads and Anchorage’s future success depends on the path taken.

The 2023 AEDC Three-Year Outlook Report, sponsored by Northrim Bank, offers a look at back at the past few years and a forecast through 2026. Positive areas in this year’s report include oil and gas, port volume, tourism, and Air Cargo where Anchorage is now the third busiest cargo airport in the world.

The jobs report for January through June is strong. Jobs are up 2.4 percent, year to date. Many employers note that it is becoming increasingly harder to hire new employees. Seventy percent of working age adults in Anchorage are in the active workforce. A statistic that was highlighted by Popp was the fact that 25 percent of jobs in Anchorage are held by someone who does not live in the Municipality. This include people who commute from other areas of the state and those who work remotely, outside of Alaska.

A full look at AEDC’s report are on their website. The reports provide further insight into the outlook report. A series of videos will be available the second week of August and will highlight more of the forecast for the coming years in Anchorage.

June jobs up 1.9 percent from June 2022

July 21, 2023
No. 23-10

JUNEAU, Alaska — June’s statewide job count was up by 6,400, or 1.9 percent, from June 2022.

Leisure and hospitality added 2,200 jobs over the year and exceeded pre-pandemic employment as the visitor season moved into full swing. The cruise industry anticipates a record 1.6 million passengers this season. Professional and business services added 600 jobs over the year, as did health care and retail.

Nearly all Alaska industries grew or remained flat, with two exceptions. The financial services sector and information were down 200 and 100 jobs, respectively. Both have been shedding jobs since their peaks in the 2000s as automation and other technology have reduced the need for labor.

The public sector added jobs over the year, led by federal government (+600). Local government, which includes public schools, was up by 500 jobs and state government by 200. Federal government has exceed pre-pandemic levels, but state and local government remain below.

Alaska’s seasonally adjusted unemployment rate was 3.7 percent in June and the comparable U.S. rate was 3.6 percent.

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