Unemployment Rate at 7.0 Percent in July
JUNEAU, Alaska—Alaska’s seasonally adjusted unemployment rate was 7.0 percent in July, up two-tenths of a percentage point from June. The rate is up half a percentage point from the beginning of the year. The comparable national rate for July was 4.3 percent.
July employment was down by an estimated 7,500 jobs from July 2016, or 2.1 percent. Preliminary estimates show job losses spread across most industries, although the deepest losses remain concentrated in industries closely tied to oil and gas.
Oil and gas led job losses (-1,500), followed by construction (-1,200), professional and business services (-1,000) and state government (-1,000). Local and federal government and health care were the only industries to gain jobs over the year. Local government includes public schools and tribal government.
July’s not-seasonally adjusted unemployment rate was 6.6 percent, down four-tenths of a percentage point from June, a slightly smaller-than-usual July decline. July and August are the peak months for seasonal employment in seafood processing, construction, and leisure and hospitality.
Across the state, unemployment rates fell in 25 of 29 boroughs and census areas. Fishing and tourism drove the lowest rates in Bristol Bay (1.6 percent), Aleutians East and West (1.9 percent and 2.8 percent, respectively) and Skagway (3.0 percent). Kusilvak Census Area continued to have the highest rate at 24.5 percent.
View the original press release at http://labor.alaska.gov/news/