Last Year’s Inflation Pushes Next Year’s Minimum Wage Up by Almost a Dollar
High inflation in 2022 means higher pay in 2024. Thanks to an automatic adjustment, the state minimum wage is rising from $10.85 per hour to $11.73 for the new year.
Tag: Economy
Alaska Forecast to Lose 16 Franchised Businesses in 2023
An annual report by the International Franchise Association forecasts that Alaska will lose sixteen franchised businesses in 2023, despite continued economic output.
2023 Alaska Economic Forecast: Ready for recovery, dragged by workforce woes
Alaska’s economy remains among the nation’s lowest performing, yet other indicators suggest potential for growth and recovery in 2023.
Resource Industries Expect Stronger, Stranger Economy in 2023
Nearly recovered from the COVID-19 slump, Alaska’s resource industries are optimistic for 2023—if enough workers can be found to fill job openings.
Inflation Pushes Minimum Wage Up by $0.51 for 2023
High inflation in 2022 means higher pay in 2023. Thanks to an automatic adjustment, the state minimum wage is rising from $10.34 per hour to $10.85.
Housing Report: Anchorage Area a Seller’s Market
The US Department of Housing and Urban Development crunched numbers for 2020 and found average prices increased 8 to 9 percent, with demand exceeding supply.
Small Businesses Optimistic for 2022, Survey Shows
The fifth annual survey by the Alaska Small Business Development Center at UAA finds a more positive attitude among business owners, compared to the challenges of the last two years.
Forecast: Full Economic Recovery Depends on Infrastructure Spending
A forecast for the Alaska economy in 2022 anticipates approximately the same 2.2 percent job growth as 2021, unless federal infrastructure spending rolls out quickly.
New Year, Same Old Minimum Wage
When 2022 arrived, Alaskans working for minimum wage received an annual inflation adjustment of zero, holding their pay at $10.34 per hour.
September Unemployment Down to 6.3%
The state Department of Labor & Workforce Development puts the seasonally adjusted rate at 6.3 percent in September, a slight decrease from August and approximately the same level of unemployment Alaska saw from 2015 through 2017.