Alaska Unemployment rate at 7.8 percent in August
Alaska’s seasonally adjusted unemployment rate rose two-tenths of a percentage point in August to 7.8 percent. July’s rate was revised down one-tenth of a percentage point to 7.6 percent.
Alaska’s rate has been climbing since June.
The comparable national rate was 8.1 percent in August, down two-tenths of a percentage point from July. The U.S. rate has been higher than Alaska’s for 46 consecutive months, but August marks the narrowest gap since late 2007, when the U.S. rate crept above Alaska’s for the fi rst time since the early 1980s. Although the national rate has been inching downward, it has a long way to fall to reach pre-recession levels.
Seasonally adjusting Alaska’s unemployment rate allows it to be compared with the national rate. Seasonal adjustment attempts to smooth out typical seasonal changes in the numbers so nonseasonal trends in the economy can be identifi ed.
Alaska’s not-seasonally adjusted rate was 6.6 percent in August, down from 7.2 percent in July.
August typically has the lowest nonadjusted rate during the year, as summer activity reaches its peak. August’s nonadjusted rate was down one-tenth of a percentage point from the previous year.
Alaska’s not-seasonally adjusted high and low were rates both in the western part of the state.
The lowest rate was in Bristol Bay Borough at 2.2 percent, and the highest was 22.5 percent in the Wade Hampton Census area.
Research and Analysis Web site: laborstats.alaska.gov
For detailed employment estimates, see labor.alaska.gov/research/ces/ces.htm.
The estimates are preliminary and subject to potentially large revisions.
Posted: September 24, 2012