Alaska Employment: May Unemployment Drops Below National Rate

Alaska’s unemployment rate dropped in May while the nationwide rate increased, putting the state slightly below the national average. The Alaska Department of Labor and Workforce Development (DOLWD) puts the seasonally adjusted figure at 3.6 percent, down from 3.7 percent in April and March.

Trend Lines Cross

The comparable national rate increased to 3.7 percent in May. Alaska typically has higher unemployment than the rest of the country, with brief exceptions during the COVID-19 spike in early 2020 and for one month in early 2022. Since then, state and national figures have converged just below 4 percent.

The unadjusted unemployment rate in the Anchorage area dropped from 3.4 to 3.3 percent in May, with the municipality steady at 3.1 percent and the Matanuska-Susitna Borough down to 4.2 percent. The state’s lowest unemployment was in Juneau and Sitka, both at 2.6 percent. Skagway saw 2.7 percent unemployment in May, down from 4.9 percent the month before, as the cruise ship season got underway.

Total number of jobs in Alaska was up by 1.8 percent year over year, an increase of 5,800 since May 2022. DOLWD puts total nonfarm employment at 329,000, up by more than 10,000 from the April total.