The Department of Labor and Workforce development released the May employment numbers in mid-June. Employment was down by 2,000 jobs in May, which is 0.6 percent from May 2017. Retail and state government had the largest decreases in job with -800 and -500, respectively. Three other sectors lost 400 jobs each over the year. Those sectors were oil and gas, financial activities, and professional and business services. Health care continues to add jobs and added 1,000 jobs. Construction continued to be flat, which is encouraging since it had taken a major hit during the recent recession in Alaska.
The seasonally adjusted unemployment rate dropped one-tenth of a percent to 7.2 percent. It had been steady at 7.3 percent for the first four months of 2018. The national average was 3.8 percent, which is the lowest that it has been since the late 1960s.
As expected, the not-seasonally adjusted rate fell in most of the state. This happens most years because of an increase in tourism. 2018 is predicted to be a great year for tourism around the state and employers are gearing up for the influx of business in the summer. Fishing and construction help boost employment numbers around the state each summer.
For charts and data on May’s employment numbers, please visit the Department of Labor.
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