Alaska Employment: 336,000 Jobs Puts Unemployment Rate at 4.1 Percent
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The seasonal number of jobs in Alaska shrank in September, raising the unemployment rate. The Alaska Department of Labor and Workforce Development (DOLWD) puts the seasonally adjusted figure at 4.1 percent, up from 3.9 in August.
Monthly Jobs Down, Yearly Jobs Up
The statewide rate has been hovering near 4 percent since the start of 2022. The comparable national rate held steady at 3.8 percent in August.
The unadjusted unemployment rate in the Anchorage area rose to 3.7 percent from August’s 3.4. The Southeast region had the lowest statewide at 3.3 percent, despite an increase from 3 percent in August, thanks to a 1.8 percent unemployment rate in Skagway, the smallest of any municipality or census area in September.
Although the total number of jobs of 336,000 was 9,000 smaller than the revised figure for August, it represents a 2 percent increase compared to September 2022. Statewide nonfarm employment grew by 6,600 jobs year to year.
Current Issue
May 2024
Two sectors that continue to see monthly and annual job losses are information and financial activities, each down by 200 over the year. State government employment, which excludes the UA System, also lost jobs since last September, down by 100, even though the 22,700 state jobs is an increase of 700 from August.
Healthcare and the leisure and hospitality sectors both added 1,400 jobs in September compared to a year ago. Manufacturing, largely driven by seasonal seafood processing, lost nearly one-third of its workforce from August to September, yet it retained nearly 5 percent more jobs than a year earlier, reversing steady declines. The oil and gas sector held steady at 7,400 jobs, about 200 more than the year-ago total.
Making History
The track of oil and gas development in Alaska shows the footprints of bold companies and hard-working individuals who shaped the industry in the past and continue to innovate today. The May 2024 issue of Alaska Business explores that history while looking forward to new product development, the energy transition for the fishing fleet, and the ethics of AI tools in business.