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Unemployment rate at 7.1 percent in October

Alaska’s seasonally adjusted unemployment rate was 7.1 percent in October, according to preliminary estimates. October’s rate was four-tenths of a percentage point lower than September’s 7.5 percent.

The significant decline in the October seasonally adjusted unemployment rate reversed the summer’s upturn. No definitive trend in Alaska’s rate in either direction has been evident this year.

The national seasonally adjusted rate was 7.9 percent in October, which was essentially unchanged from September’s 7.8 percent. The U.S. rate has fallen more than two percentage points from its recession high of 10.0 percent in 2009, although it remains well above pre-recession levels. October marks the 48th consecutive month that the national rate has been higher than Alaska’s.

October rates for Alaska’s boroughs and census areas – which are not seasonally adjusted – varied widely. The highest rate was in Wade Hampton Census Area at 19.2 percent. The City and Borough of Juneau had the lowest unemployment rate in October, at 4.3 percent.

The biggest over-the-month change was in the Municipality of Skagway, where September’s 2.4 percent unemployment jumped to 17.3 percent in October with the end of the tourism season.

Contact: Caroline Schultz, Economist

(907) 465-6027

Research and Analysis Web site: laborstats.alaska.gov

November 16, 2012 No. 12-55

For detailed employment estimates, see http://live.laborstats.alaska.gov/ces/. The

estimates are preliminary and subject to potentially large revisions

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