Alaska Employment: Unemployment Rate Down as More Sectors Rebound

Jan 28, 2023 | Government, News

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Alaska’s unemployment rate dropped slightly to end 2022. The Alaska Department of Labor and Workforce Development puts the seasonally adjusted figure for December at 4.3 percent, down two-tenths of a percentage point from the rate in November and October.

More Sectors Recover

The monthly change outpaces the drop in the national unemployment rate, which fell to 3.5 percent in December from 3.6 the month before.

The unemployment rate in the Anchorage area echoed the national rate, down to 3.5 percent in December from a revised 3.6 in November, giving it the lowest rate of any region in the state. The Interior dropped to 4.1, but Southeast Alaska rose to 4.3 percent in December. Every region had lower unadjusted rates except for the Aleutians East Borough, Copper River Census Area, Denali Borough, Hoonah-Angoon Census Area, and Northwest Arctic Borough.

Total number of jobs in Alaska ended 2022 approximately where 2019 and 2020 both started, around 310,000. Compared to a year earlier, December’s job count was up by 2.1 percent, with 6,400 more Alaskans employed than a year earlier. Nearly all industries recorded growth except for the manufacturing and state government sectors, which lost 300 and 600 jobs, respectively. However, manufacturing sector jobs now equal their pre-pandemic level.

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Alaska Business June 2024 Cover

June 2024

The oil and gas sector still has the largest deficit from pre-pandemic jobs, down by 2,900 since December 2019 but adding 400 from 2021 to 2022.

The transportation, warehousing, and utilities sector is 1,400 jobs ahead of its pre-pandemic peak, thanks to the biggest percentage gain in jobs compared to December 2021, up 9 percent, or 1,800 more jobs compared to a year earlier. The leisure and hospitality sector was also up by 1,800 jobs year over year but is still 600 below pre-pandemic levels.

Sectors that have fully rebounded also include retail, with 500 more jobs than December 2019, and federal government, up by 200.

Alaska Business June 2024 cover
In This Issue
Delivering Anchorage's Promise
June 2024
Welcome to the June 2024 issue, which features our annual Transportation Special Section. We've paired it this year with a focus on the Pacific Northwest and Hawai'i, as Alaska has close ties to both that reach far beyond lines of transportation. Even further out past our Pacific Ocean compatriots and our Canadian neighbors to the east, Alaska's reach extends to India and Singapore. Enjoy this issue that explores many of Alaska's far-flung business dealings.
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