In February, Anchorage’s not seasonally adjusted preliminary unemployment rate was 6.7 percent, up 0.3 percent compared to the January revised rate. This is 2.3 percent above the national not seasonally adjusted rate of 4.4 percent and 1.5 percent below the statewide not seasonally adjusted rate of 8.2 percent. The February unemployment rate for Anchorage was 0.8 percent higher than it was in February 2017. As always, it should be noted that these are preliminary survey figures for February and will be revised next month.

The Anchorage 2017 average year-to-date (YTD) not seasonally adjusted unemployment rate rose to 6.5 percent at the end of February, 0.8 percent higher than at this time last year. A decrease of 3,144 in the employment total and a decrease of 2,017 in the Anchorage labor force during the YTD period has resulted in the reported unemployment total increasing by 1,097. The total number of unemployed people in Anchorage for the month of February is estimated at 10,274 (those actively looking for jobs), 1,059 more than February 2017.

As for Anchorage industry employment estimates, which includes total jobs in Anchorage held by city residents and commuters, the YTD average through February for 2018 shows a loss of 2,000 jobs (-1.3 percent) so far compared to the same period in 2017. The private sector (total jobs minus government jobs) at 119,500 jobs shrunk by 1,200 (-1.0 percent) jobs during this time, while Government employment at 28,700 jobs has decreased by 800 (-2.7 percent). Federal jobs decreased by 100 (-1.2 percent). State government jobs have decreased by 200 (-2.0 percent) and Local Government jobs have decreased by 400 (-3.7 percent). Please note that these figures will likely be revised as more data is received and additional analysis is conducted.

AEDC’s employment reports are generously co-sponsored by First National Bank Alaska and Alaska Executive Search.

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