Alaska Employment: 336,000 Jobs Puts Unemployment Rate at 4.1 Percent
Funtap P | Dreamstime
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.
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.
Better Business Bureau: Smart Shopping in Tough Times
In challenging economic times, cutting corners on car maintenance, home repairs, or professional advice can backfire. In short, “cheap” doesn’t always mean “smart.”
End the Year on Purpose: Alaskans’ December Financial Checklist
While the most suitable tax and investment planning occurs year-round, December still offers powerful opportunities to stop and review, adjust, and prepare for a stronger start to the new year.
Angels Be Swooping: Investors Award Underwear Entrepreneur
The top choice of investors at the 2025 Alaska Angel Conference, and the winner of a $100,000 prize, is Alaska apparel brand SWOOP.
Also in this issue: building a company and planning an exit strategy; several ESOPs, and UAS’ foray into a new model for tuition. Enjoy!