The Anchorage 2018 average year-to-date (YTD) not seasonally adjusted unemployment rate dropped to 5.8 percent at the end of May, 0.6 percent higher than at this time last year. A decrease of 4,025 in the employment total and a decrease of 3,417 in the Anchorage labor force during the YTD period has resulted in the reported unemployment total increasing by 653. The total number of unemployed people in Anchorage for the month of May is estimated at 9,704 (those actively looking for jobs), 653 more than May 2017. In the Mat-Su Borough, the May unemployment rate of 8.3 percent is up 0.5 percent from May 2017 while the Kenai Peninsula’s unemployment rate of 7.7 percent has increased by 0.7 percent compared to May 2017 (see the charts on pages 9-10 for more details). It is important to note that the Anchorage unemployment numbers represent the labor force residing in Anchorage, and do not describe the number of filled positions in Anchorage. The industry employment estimates referenced in the remainder of this report are representative of the number of jobs in the Municipality of Anchorage, regardless of the job holder’s place of residency.

As for Anchorage industry employment estimates, which includes total jobs in Anchorage held by city residents and commuters, the YTD average through May for 2018 shows a loss of 1,800 jobs (-1.2 percent) so far compared to the same period in 2017. The private sector (total jobs minus government jobs) at 124,200 jobs shrunk by 1,200 (-1.0 percent) jobs during this time, while Government employment at 28,800 jobs has decreased by 600 (-2.0 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 300 (-2.8 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.