Alaska Unemployment Rate Down as More Sectors Rebound

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.