Unemployment rate at 6.3 percent in July
Alaska’s seasonally adjusted unemployment rate was 6.3 percent in July, up three-tenths of a percentage point from June’s revised rate. The comparable national rate was 7.4 percent.
Alaska’s not-seasonally adjusted rate was 5.9 percent in July, down six-tenths of a percentage point from June. Large declines in the unadjusted rate are typical from June to July. The unadjusted rate was also seven-tenths of a percentage point lower than it was one year ago.
Not-seasonally adjusted rates fell in 26 of 29 boroughs and census areas. Summer employment was firing on all cylinders in July, reflected in low unemployment across the state.
The lowest rates were in Bristol Bay Borough at 1.1 percent and the Municipality of Skagway at 2.3 percent. Bristol Bay and Skagway both have small year-round populations and depend heavily on a single summer industry. In Bristol Bay it’s salmon fishing, and in Skagway it’s tourism.
The largest over-the-month rate drops were in Aleutians East Borough and Aleutians West Census Area, where rates fell 4 and 2.3 percent- age points, respectively. The summer pollock and salmon fisheries are in full swing in the Aleutians by July, which explains the drop in unemployment.
Contact: Caroline Schultz, Economist (907) 465-6027
Research and Analysis Web site: http://laborstats.alaska.gov
For detailed employment estimates, see http://live.laborstats.alaska.gov/ces/.
The estimates are preliminary and subject to potentially large revisions.
August 16, 2013 No. 13-37
Posted: August 16, 2013