The Anchorage Economic Development Corporation (AEDC) recently published their 2013 Economic Forecast for Anchorage - Alaska’s largest city. At their recent forecast luncheon, AEDC announced their prediction that Anchorage will grow 1,700 jobs, or an increase of 1.1%, in 2013.
In 2012, AEDC predicted 1,500 new jobs, with preliminary data suggesting a steady growth of 1,800 jobs, or 1.2% increase. This wraps up a three-year growth of 5,000 jobs added to the economy, putting Anchorage’s annual average of 156,200 wage and salary jobs. And, Anchorage unemployment rates dropped again in 2012, dipping to 5.6%, the lowest level since 2008, prior to the recession. Bill Popp, AEDC President and CEO, explained that we are mostly at full employment with this low percentage, and that there are some challenges for employers to find skilled and trained workers.
“Anchorage doesn’t have a labor pool, we have a labor puddle,” Popp noted at the AEDC forecast luncheon in Anchorage.
Looking forward, growth will continue in the areas of professional and business services, health care, and further recovery in the visitor industry with statewide cruise traffic expected to get back to the one million passenger mark this year. Challenges may arise for Anchorage, as the world’s 4th largest airfreight hub with the Eurozone and Japan still in recession and slowing growth in China. Two of our mainstays in Alaska’s economy - the oil and gas industry and the federal government – both face uncertainty. The Alaska oil tax debates continue along with the decline of North Slope production and Federal spending is expected to decline somewhat in 2013.
Even with the continuing atmosphere of uncertainty and upcoming challenges, the Anchorage economy continues to grow at a steady pace. Click here to read the full report.
AEDC provides industry expertise and economic resources to both large corporations and growing companies interested in locating or expanding their business in Anchorage. They produce trusted employment data and economic research that provides a clear snapshot of the City’s economy. The economic forecast is prepared for AEDC by the McDowel Group.
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