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

Dec 20, 2022 | Government, News

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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.

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Alaska Business October 2023 Cover

October 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 magazine October 2023 cover
In This Issue
The 2023 Top 49ers
October 2023
It's October, and that means it's time to reveal the 2023 Top 49ers, which are Alaska's largest companies (founded and headquartered in-state), ranked by gross revenue. Learn who made the list and where they landed. Complementing the Top 49ers, in this issue we also focus on business ownership, from starting a business to funding it, running it, and ultimately passing it on. Enjoy!
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