Alaska Unemployment Rate Holds Steady in November, Job Total Up Slightly

Dec 20, 2022 | Government, News

Employment concept

funtap p | Dreamstime

Alaska’s unemployment rate held steady from October to November. The Alaska Department of Labor and Workforce Development puts the seasonally adjusted figure at 4.5 percent, which was up one-tenth of a percentage point from September.

National Rate Also Flat

The state figure matches the unchanged national unemployment rate, likewise holding at 3.7 percent from October to November.

The unemployment rate in the Anchorage area continued to rise by four-tenths of a point to 3.7 percent, still the lowest of any region in the state. Southeast Alaska rose to 4.2 percent in November, and the Interior rose to 4.3. Every region saw higher unadjusted rates, but seasonal adjustment keeps the statewide rate even.

Total number of jobs in Alaska increased by 1.7 percent since November 2021, with 5,200 more Alaskans employed than a year earlier. Nearly all industries recorded growth, according to the department, but most remained below pre-pandemic levels. Overall, Alaska had 7,600 fewer jobs than in November 2019.

Current Issue

Alaska Business March 2023 Cover

March 2023

The oil and gas sector had the biggest percentage gain in jobs compared to November 2021, at 7.5 percent, up by 500 jobs compared to a year earlier but still 2,600 below November 2019. The department notes that the industry employs less than half as many workers as the peak of 7,100 in 2014, on the verge of the oil price crash.

The job count in the leisure and hospitality sector was up by 7.3 percent year over year, adding 2,100 jobs. That beats the 5.4 percent growth in the transportation, warehousing, and utility sector, which gained 1,100 jobs since November 2021. Transportation employment rose above pre-pandemic levels, but leisure and hospitality has 1,100 more to go before a full recovery.

Although most industries were up from year-ago levels, state and federal government and private education and health employment were lower than a year ago. The biggest losses came from the state government, down by 700, and the education and health category, down by 600. The federal government was down 100 jobs over the year.

Alaska Business March 2023 cover
In This Issue
Arctic Alternatives
March 2023
Since the ‘70s, conversations about US Arctic energy have been dominated by oil and gas. The importance, or even possibility, of diversification of energy sources often gets lost amid that noise at the state level.
Share This