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Alaskans’ Confidence in Their Personal Financial Security Slips in the Third Quarter


The number of Alaskans describing their local and state economies as “Good or Very Good” edged
slightly upward in the 3rd quarter of 2010, changing direction from earlier results. In a continuing
trend, however, Alaskans continued to feel less secure about their family’s current financial status.  

Financial Security
Continuing a multi-quarter trend, more Alaskans are describing their financial position as less secure
compared to the prior quarters of the survey.
Respondents who thought their family’s household
financial security was “Good or Very Good” (46.6 percent) decreased by 3.6 percentage points from
the 2nd quarter of 2010—dropping below 50 percent for the first time since the Alaska Confidence
Review began in the 1st quarter of 2010. Those respondents who described their household financial
security as “Bad or Very Bad” increased by 2.2 percentage points, climbing to 23.7 percent.  

Table 1. Current Description of Financial Security
See attached for table.

While confidence in their financial security fell during the 3rd quarter, most respondents (62.3 percent)
still observed some stability about their situation, describing their family’s financial security as staying
the same, rather than getting better or worse.

Table 2. Family's Financial Security Getting Better or Worse?
See attached for table.

Not surprisingly, those at the higher end of the income ladder felt more financially secure; over half of
the respondents with household incomes of $60,000 or above felt that their financial security was
good compared with those at the lower end of the income bracket. However, they too remained flat
regarding their perception of their financial security.

Younger people ages 18-24 were more like to say that their personal finances were improving (38.9
percent), while respondents aged 35-44 were more likely (58.7 percent) to feel secure with their
current financial situation.

Confidence in financial security varied across regions: 56.2 percent of respondents in Southeast
Alaska described their financial situations as “Good or Very Good,” while only 36.1 percent of rural
Alaska respondents said the same.

Confidence in Community Economies
Similar to the perceptions of their own financial security, respondents described their local economies
as staying the same over the last quarter. The percentage of Alaskans describing their community’s
economy in positive terms, however, edged up slightly during the 3rd quarter.
Those respondents
describing their local economies as “Good or Very Good” (37.2 percent) rose 1.7 percentage points
from the 2nd quarter.  

Table 3. Current Description of Community Economies
See attached for table.

The number of respondents (20.7 percent) who believed their local economies were getting worse fell
4.1 percentage points over the last quarter. Rather, respondents (65.9 percent) perceived their local
economies as staying the same, up 4.9 percentage points from the 2nd quarter.

Table 4. Community Economies Getting Better or Worse?
See attached for table.

Respondents living in Anchorage tended to describe their local economies as staying the same or
getting better (90.3 percent), a much higher portion than rural Alaskans who said the same (67.7
percent).  

Confidence in the State’s Economy
Corresponding with Alaskans’ view of their local economies, the number of respondents describing
the state economy as good or better rose to a yearly high,
even while expectations for the future
remained flat. Respondents who described the state’s economy as “Good or Very Good” (35.3
percent), moved up 2.8 percentage points from the second quarter; the numbers of respondents who
were neutral (46.4 percent) and negative (16.1 percent) about the economy both fell in the 3rd
quarter.

Table 5. Current Description of Alaska’s State Economy
See attached for table.

As in past quarters, a majority of respondents said that they thought Alaska’s economy was staying the
same. This quarter saw a small gain in the segment that thought the state’s economy was getting better
and a small reduction in those who thought it was getting worse.

Table 6. Alaska State Economy Getting Better or Worse?
See attached for table.

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.  

For more information regarding the Alaska Confidence Review please contact Jonathan King, Northern
Economics, Inc. at 907-274-5600.

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