Anchorage sees job growth in strong visitor, health care and transportation industries
April 5.3% unemployment rate below statewide 6.9% rate
AEDC | FNBA
ANCHORAGE, Alaskas - Anchorage’s unemployment rate in April was 5.3 percent, a decrease of 0.2 percent from the March revised rate, according to the latest employment report released by the Anchorage Economic Development Corp. and sponsored by First National Bank Alaska. This rate sets the 2016 year-to-date Anchorage unemployment rate at 5.5 percent. These numbers are above the national rate of 5.0 percent and below the statewide rate of 6.9 percent.
The report’s employment estimate for April showed 155,900 jobs held in Anchorage, a decline of 300 jobs compared to the same period in 2015. The private sector shrunk by 600 jobs, while government employment has grown by 300.
The services providing category, which includes engineering, retail, tourism and health care, totaled 143,500 jobs for April, an increase of 600 jobs from 2015 year-to-date. Trade/transportation/utilities industry and leisure & hospitality have respectively grown by 300 jobs and 200 jobs. The health care sector continues to maintain steady growth with an increase of 400 jobs, while professional and business services are down 600 jobs.
The number of jobs in the goods producing category, which includes construction, mining, oil and gas and manufacturing, is continuing its downward trend, decreasing 900 jobs 2016 year-to-date. The mining and logging industry, which includes oil and gas employment, continues to decline locally, showing 400 fewer jobs in the same time period. Construction is down 400 jobs year-to-date, while manufacturing remains flat compared to 2015.
State government is down 300 jobs year-to-date compared to the same time period in 2015. Federal government employment has increased by 400 and local government has risen by 200 during the same time frame compared to last year.
“We are going to continue to see job loss throughout this year,” said Bill Popp, president and CEO of AEDC. “But we expect that the projected growth in the national economy, combined with a strong visitor season for Alaska will bolster the trade, transportation and utilities industry as well as overall jobs.”
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 250 investors, which represent all industries in Anchorage and Alaska. The vision of AEDC is for Anchorage to become the No. 1 city in America to live, work and play by 2025. For more information visit www.AEDCweb.com.