November Unemployment Rate for Anchorage 4.8%
The November unemployment rate in Anchorage was 4.8 percent, well below the national rate of 5.5 % and the Alaska statewide rate of 6.2%, according to the latest employment report released by the Anchorage Economic Development Corp. and sponsored by First National Bank Alaska. The preliminary jobs total for Anchorage was 157,300, the highest total for the month on record, bringing the year-to-date average unemployment rate to 5.1 percent.
As for Anchorage industry employment estimates, the YTD average is continuing to show improvement over 2013 with a net increase of 291 jobs so far. The private sector has grown by 801 jobs during this time, equaling a growth rate of 0.6 percent.
Overall, Anchorage’s employment statistics are very strong. Significant monthly improvements in the jobs totals for the first half of the year have been the main driver of the YTD improvements. Coupled with the low YTD unemployment rate, Anchorage’s labor market is typical of a “full employment” environment.
The complete Anchorage employment report sponsored by First National Bank Alaska is available here.