Alaska Employment: 344,100 Jobs Puts Unemployment Rate at 3.9 Percent
The seasonal number of jobs in Alaska shrank slightly in August, raising the unemployment rate. The Alaska Department of Labor and Workforce Development (DOLWD) puts the seasonally adjusted figure at 3.9 percent, up from 3.8 in July.
Total Jobs Up 1.4 Percent Year-Over-Year
The statewide rate is still hovering near historic lows, below 4 percent since the start of 2022. The comparable national rate rose to 3.8 percent in August.
The unadjusted unemployment rate in the Anchorage area fell to 3.4 percent from July’s 3.5. The lowest rate was in the Aleutians East Borough, at 1.7 percent in August. Compared to a year earlier, though, every region saw higher unadjusted rates in August.
Total number of jobs in Alaska was up by 1.4 percent year over year, an increase of 4,800 since August 2022. The month-to-month estimates, though, show total nonfarm employment dropped to 344,100 in August from 347,200 in July. An increase in government employment could not offset a smaller number of private sector jobs.
Manufacturing, which is primarily seafood processing in Alaska, was down by 400 jobs since August 2022, a 2.2 percent drop. The other sectors with annual job losses were information and financial activities, each down by 100 over the year, the same as in July.
The federal government’s job count was the same in August as in July, but compared to August 2022 it increased by 900, up 5.9 percent. Local government jobs increased by 1,400 month to month, equaling the year-ago figure.
Leisure and hospitality added 2,000 jobs over the year, for 4.8 percent annual growth in August. Healthcare added 900 jobs and the construction sector employed 600 more people in August than a year earlier. The oil and gas sector had the biggest percentage growth, year over year, up 5.7 percent with an additional 400 jobs.