Anchorage Industry Report: April 2021
In 2019, the Anchorage economy seemed to be on an upward trajectory, finally inching out of a multi-year recession towards positive growth. In early 2020, the economic optimism cultivated in 2019 was stifled as the coronavirus pandemic rippled through the community and the economy stumbled. A year later, the pandemic has unquestionably changed the economic landscape of Anchorage as the timeline of recovery remains uncertain.
The pandemic did not have uniform impacts on every industry in the municipality. Industries that provided in-person services prior to the pandemic were understandably hard-hit, while other industries added new employees to respond to the unique challenges posed by the pandemic. This report offers a preliminary view into how different sectors of the economy were impacted and considers how each sector might navigate the recovery period.