Anchorage job numbers high as summer employment reaches its peak
Anchorage unemployment in July was 5.1 percent, according to the latest employment report released by the Anchorage Economic Development Corp. and sponsored by First National Bank Alaska. This rate shows a 0.5 percent drop from June’s revised rate and remains well below the national rate of 6.5 percent and the statewide rate of 6.1 percent.
“Anchorage unemployment last month was at the lowest July rate we’ve seen since 2007,” said Bill Popp, AEDC president and CEO. “We typically see a decrease in the unemployment rate for the month of August as summer employment reaches its peak. This summer’s pattern has closely resembled last year’s trend, and we anticipate the rate to drop below 5 percent for much of the second half of the year.”
The average monthly employment from January to July increased by 457 jobs compared to the same months in 2013. Anchorage’s private sector has seen an increase of 1,100 jobs so far this year, while government employment has declined by 643 jobs, with losses split between federal employment and local education.
The number of goods-producing jobs has been steadily increasing, and is showing a gain of 100 jobs year-to-date. The largest contributing factor has been an increase in the mining and logging industry, which includes oil and gas employment, with an increase of 143 new jobs compared to the 2013 year-to-date monthly average.
The information industry leads the service sector with a growth rate of 2.63 percent so far this year. If the last five months of 2014 mirror the last five months of 2013, the information industry will end the year with more growth than in any year over the past decade. Retail trade jobs in Anchorage also continue to show excellent growth, with 614 more jobs year-to-date than at the same time last year. Health care remains one of the fastest growing service-providing industries, with 286 more jobs year-to-date than in 2013.
The complete Anchorage employment report sponsored by First National Bank Alaska is available at AEDCweb.com.
AEDC is a private, nonprofit membership organization developed in 1987 to encourage growth and to diversify the Anchorage economy. The organization has more than 260 investors, which represent all industries in Anchorage and Alaska. For more information visit www.AEDCweb.com.
Posted: August 26, 2014