Anchorage November Unemployment Increases Slightly From October

The ninth edition of the 2016 AEDC Employment Report, sponsored by First National Bank Alaska, has just been released.

This November, unemployment in Anchorage was at 5.3 percent, a 0.2 percent increase from October, according to the latest report from the Anchorage Economic Development Corp., sponsored by First National Bank Alaska. With this latest figure, the 2016 year-to-date Anchorage unemployment rate sits at 5.4 percent, 0.2 percent higher than at this time last year. These numbers are higher than the national rate of 4.6 percent and below the statewide rate of 6.7 percent. 

“We’re continuing to feel some of the residual effects of job losses,” said AEDC President and CEO Bill Popp. “However, there were still a few bright spots this year. The real estate market, which is one indicator of economic health, remains strong with 2016 coming in third over the last ten year period for home sales, and second for average sales price.”

The Goods Producing category, which includes Construction, Mining, Oil & Gas and Manufacturing, has led the overall downward trend of job losses with a decrease of 1,600 jobs year-to-date. Fluctuating oil prices continue to cause this sector to reflect economic uncertainty compared to others.

Employment in the Anchorage Educational & Health Services sector showed 800 more jobs than 2015 year-to-date, giving it a growth rate of 3.2 percent. This continues a positive growth trend for this sector.

Government employment has remained on track with 2015 levels, with federal jobs increasing by 200 positions, state government decreasing by 500 positions and local government decreasing by 100.

Download the full report (PDF file) sponsored by First National Bank Alaska here: View PDF