Unemployment Rate Down Slightly in July

Aug 24, 2022 | Government, News

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Alaska’s unemployment rate dropped slightly in July, down one-tenth of a percentage point from June. The Alaska Department of Labor and Workforce Development puts the seasonally adjusted figure at 4.5 percent.

Following the Nation

The rate in Alaska remains above the national rate of 3.5 percent, which likewise was a slight dip after three flat months.

The unadjusted rate in Anchorage and the Matanuska-Susitna Borough was a combined 4 percent, the same figure as the Interior. Southeast Alaska dropped to 3.5 percent. Fishing season in Dillingham and the Lake and Peninsula Borough gave the Southwest region the state’s biggest monthly drop, from 8.4 to 7 percent.

Total number of jobs increased 3 percent since July 2021, with 9,900 more Alaskans employed than a year earlier. That figure is a bigger improvement than the month before, yet still 14,100 jobs below July 2019.

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May 2024

The leisure and hospitality sector had the strongest year-over-year growth, up 10.3 percent, but the 40,700 total jobs are still 3,700 less than in July 2019. Transportation, warehousing, and utilities saw 4.6 percent growth in jobs year-over-year, with 2,900 added since July 2021, yet that sector remains 3,300 jobs below July 2019. The oil and gas sector is 2,600 jobs down from 2019.

The Department of Labor points to a few sectors that have recovered to their pre-pandemic employment: construction, education, healthcare, wholesale trade, and the federal government.

Alaska Business May 2024 cover
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Making History

May 2024

The track of oil and gas development in Alaska shows the footprints of bold companies and hard-working individuals who shaped the industry in the past and continue to innovate today. The May 2024 issue of Alaska Business explores that history while looking forward to new product development, the energy transition for the fishing fleet, and the ethics of AI tools in business.

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