Alaska Employment: Job Count Rises by 1.6% in February, Unemployment Rate Flat
Photo Credit: FUNTAP P | DREAMSTIME
Alaska’s unemployment rate held steady in February, even as the total number of jobs increased from January. The rate is also exactly the same as a year earlier, despite an increase in the workforce. The Alaska Department of Labor and Workforce Development puts the seasonally adjusted figure for February at 4.7 percent, unchanged from the last reading from December.
Few Fluctuations All Year
The statewide unemployment rate in February avoided the slight increase in the national rate, which ticked up from 4 percent in January to 4.1 percent.
The unadjusted unemployment rate in the Anchorage/Mat-Su Region matched the statewide rate and was the lowest of any region. Some boroughs and census areas had lower unemployment, however, such as 3.2 percent in the North Slope Borough and Aleutians East Borough and 2.5 percent in the Aleutians West Census Area.
Current Issue
April 2025
The total number of nonfarm jobs in February was 325,800, up from 320,000 in January and up by 5,200 from a year earlier, for an increase of 1.6 percent. The private sector led with 1.9 percent annual job growth, while the government sector grew by 0.7 percent. Changes for federal employees are not yet appearing in the state’s job counts, with 15,200 in February representing a gain of 100 compared to a year earlier. Local government, however, was flat from year to year, despite a gain of 600 from January to February for a total of 41,900, not counting public school employment or tribal governments.
The manufacturing sector, largely driven by seafood processing, saw the largest annual percentage drop, losing 500 jobs compared to February 2024, or a loss of 4.4 percent. The retail and financial activities sectors also counted 100 fewer jobs than a year earlier, for decreases of 0.3 and 0.9 percent, respectively.
Healthcare added the most jobs in February, with 1,400 more than a year earlier. The largest percentage gain was in the oil and gas sector, with 600 more jobs representing 7.5 percent growth. Construction grew by 6.1 percent with 1,000 more jobs, year over year. The transportation, warehousing, and utilities sector added 1,100 more jobs for 5 percent annual growth.
Anchorage Assembly Approves $1.1B Bond for New Port Cargo Terminal
The Anchorage Assembly authorized a $1.1 billion revenue bond and approved a construction contract for the city-owned port’s Cargo Terminal 1.
Furie Embarks on Kitchen Lights Drilling Campaign
Furie sends jack-up rig to Kitchen Lights Unit for multi-year development plan aided by Alaska Industrial Development and Export Authority.
Alaska News Coalition Launching an Online Public Notice Clearinghouse
Nonprofit newspaper organization Alaska News Coalition prepares to launch a statewide public notice clearinghouse website in May.
