The total number of payroll jobs, not including uniformed military and the self-employed, is about 335,000. It is important to note this is a preliminary estimate by the Alaska Department of Labor using nine months of actual data from employer tax returns and three months of estimates. The final numbers will be revised in March of 2013.
2012 saw the largest improvements from Health Care (+4.8%), Professional and Business Services (+4.8%), and Oil and Gas Extraction (+4.6%). The biggest surprise came from the Construction sector, which had a 4.4% increase after declining for the last six years. This is attributed to an enormous $3.4 billion State capital budget, an additional $454 million in voter approved bond packages, continued investment in older oil fields, and an uptick in residential housing construction. This was somewhat tempered by a reduction in Federal spending on the military and through the Army Corps of Engineers.
Health Care is benefiting from a demographic situation where Alaska has both an aging baby boomer population and a young, under 20 generation. People require the most health care at the beginning and end of their lives.
The largest declining sectors in the Labor Department figures were Federal Government (-4.1%) which lost 700 jobs. Financial Activities decreased by 2% or 300 jobs and Information Services fell 1.6% or 100 jobs.
The State Labor Department is forecasting 4,200 new jobs or 1.2% growth in 2013. They predict a continued job loss of 300 Federal positions, which will be more than offset by a gain of 600 total government jobs at the state and local level. Other than a 1% contraction in Financial Activities jobs, they foresee growth in every other sector of the economy in 2013. Health Care, Oil and Gas and Professional Services are again expected to lead the expansion of job opportunities in Alaska.
The complete report can be read in January issue of Alaska Economic Trends at: http://labor.state.ak.us/trends/home.htm
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