Alaskanomics

July jobs up 2.0 percent from July 2023

Aug 16, 2024
No. 24-18

JUNEAU, Alaska — July’s statewide job count was up by 6,900, or 2.0 percent, from July 2023. 

Factors influencing growth included federally funded infrastructure projects and North Slope oil and gas projects, which helped boost construction (2,900 jobs), professional and business services (900), and transportation, warehousing and utilities (1,100). Oil and gas employment was also up by 500.  

Strong visitor numbers drove leisure and hospitality growth (100) and retail (flat employment), and contributed to transportation gains. Health care continued to show strong growth, adding 1,700 jobs, a 4.2 percent increase from last July.  

Most industries added jobs but manufacturing lost 1,700 through seafood processing disruptions while information (-200) and financial activities (-100) continued their long-term trend of small losses. 

Federal government was up 700 jobs, state government added 200, and local government added 100 over the year. 

Alaska’s seasonally adjusted unemployment rate was 4.5 percent in July and the U.S. rate was 4.3 percent. Both have risen slightly over the last year but remain well below historical averages.

View data tables and charts (PDF)

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Labor force data home page

AEDC Economic Development Luncheon

The Anchorage Economic Development Corporation (AEDC) hosted its annual Economic Development luncheon on Wednesday. The event featured updates from the AEDC board and staff, Mayor LaFrance and Keynote speaker Andrew Busch.

AEDC President and CEO Jenna Wright continued her optimistic tone that she struck during the January forecast lunch. Wright shared an update on the summer job market and consumer and business indices.

The Employment Update - June 2024 is a brief update on the local job gains and losses throughout various industries. In June 2024, Anchorage unemployment increased from 3.6% to 4.2%. This amount of unemployment suggests that Anchorage has far too few workers to fill the open jobs around the city. This makes growth difficult and is often cited by business owners and managers as a barrier to development.

A Real-time Jobs Intelligence report highlights the types of jobs posted and the details of the requirements for these jobs. The report looks at April through June 2024.

The Anchorage Consumer Optimism Index was lower than during the first two quarters in both 2022 and 2023. Both personal finance confidence and future expectations were also low, either at or near historic low.

In contrast, the Business Confidence Index while lower than last year, it was still in the positive range and is the third-highest score in the last decade.

Wright and AEDC board member Walter Featherly spoke about the details of Project Anchorage, the initiative to implement a 3% sales tax dedicated to property tax relief and revenue to fund projects to improve Anchorage. The initiative is currently gathering ideas for projects from residents and attendees were invited to submit their own ideas of ways to make Anchorage a better community. Projects can be submitted through September 14, 2024. Details on the plan are at ProjectAnchorage.com.

Up-to-date AEDC reports are online.