News Release
February 21, 2002
Thursday - 10:50 am

Alaska's unemployment rate rose to 7.5% in January, an increase of one and three-tenths percentage points from December. Expected seasonal slowdowns in major industries drove the increase. January's rate of 7.5% ties 1999 for the lowest unemployment rate ever recorded for the month, and is significantly below the ten-year average unemployment rate for January of 8.8%. Dan Robinson, a labor economist with the Alaska Department of Labor and Workforce Development, reported the numbers. The comparable national unemployment rate in January was 6.3%.

The number of unemployed Alaskans increased to about 24,200 in January, about 4,600 more than in December, but more than 2,000 fewer than in January 2001. January is typically the peak month of unemployment as the state's seasonal industries-construction,
retail trade, and services, among others- reach their mid-winter low points. Initial claims for
unemployment rose in January by more than 2,000, an increase of 24% over the month, though comparable to numbers from January 2001.

Most areas of the state showed higher over-the-month unemployment rates. At 4.8%, the Municipality of Anchorage had the lowest rate for the third consecutive month. The Wade Hampton Census Area recorded the state's highest rate at 17.7%.

All regions of the state had lower unemployment rates in January of this year than in January 2001. For example, the Southeast Region had an unemployment rate of 9.8% in January 2002 compared to 10.6% in January 2001, and the Gulf Coast Region's rate dropped from 13.5% in January 2001 to 12.5% in January 2002.

The seasonal slowdown was also evident in Alaska's wage and salary employment count. In all, the state lost 7,800 jobs from December to January, mostly from construction, retail trade, services, and government. The only industry that added a significant number of jobs over the month was seafood processing, where winter fisheries in the Gulf and Southwest Regions contributed more than 2,000 new jobs.

Despite January's seasonal decline, Alaska's over-the-year job growth continued at a rate of slightly more than two percent. All of that growth comes from the service-producing sector where the state has added more than 6,000 jobs in the last twelve months. In contrast, Alaska has lost approximately 300 goods-producing jobs since January 2001, a decline of slightly more than one percent.

Source of News Release:

The Department of Labor and Workforce Development
Web Site

 

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