Alaskans’ Confidence in Local Economies and Personal Finances Slips in the Second Quarter
Alaskans’ confidence in their local communities’ economies and their family household finances slipped in the second quarter of 2010; also, more Alaskans now say that local and statewide economic conditions are worsening than say conditions are getting better. The second quarter of Northern Economics’ Alaska Confidence Review shows confidence in Alaska’s economies declining from the first quarter. Some of the more interesting results include:
• As in the first quarter of 2010, a majority of Alaskans would not describe the current condition their local community’s economy as good and said that conditions are not improving over time: o The portion of respondents who rated their local community’s economy as good or better fell by 3 percentage points to just over 35 percent, while the portion who rated their local economic conditions as poor or worse increased by nearly the same amount to 18 percent.o While 60 percent of respondents said they felt the economic conditions in their local communities was staying the same, the portion that felt things were getting worse increased by 8 percentage points to nearly one quarter of the respondents. Less than 15 percent of respondents felt things were getting better in their local community. • Alaskans’ rating of the state’s current economic condition stayed steady in the second quarter. A majority of Alaskans would not describe the overall state economy as good or improving. Only 32 percent of respondents rated Alaska’s economy as good or better, while just over 16 percent rated the economy as poor or worse. • At the same time, more Alaskans felt that economic conditions in the state are worsening. More than one-quarter of respondents said economic conditions in the state are getting worse. Most of the increase in this category came from respondents who felt that conditions were stable in the first quarter; the portion of respondents who felt things were getting better overall stayed roughly constant in the second quarter.
• While Alaskans still feel comparatively good about their personal finances, the percentage of respondents who rated their family’s financial situation as secure or very secure fell to 50 percent in the second quarter from 60 percent in the first quarter. Respondents who felt their family’s financial situation is getting better outnumbered those who felt it is getting worse by just five percentage points.The data supporting Northern Economics’ Alaska Confidence Review are generated via The Alaska Survey, a joint venture between Ivan Moore Research and Northwest Strategies. This quarterly statewide survey of more than 750 Alaskans is the first regularly conducted survey in Alaska to include a substantial sub-sample of respondents who only use cell phones.