March's Unemployment Rate Rises Slightly

Apr. 17, 2002
No. 02-24

AVAILABLE IN PDF

Alaska's unemployment rate showed little change in March, increasing one-tenth of a percentage point to 7.4%. Alaska typically sees its unemployment rate begin to fall in March as some of the state's many seasonal jobs are added back into the economy. The comparable national unemployment rate was unchanged at 6.1%. Dan Robinson, a labor economist with the Alaska Department of Labor and Workforce Development, reported the numbers.

The number of unemployed Alaskans in March grew by 325 to 24,012, an increase of 1.4% over the month and 5.3% over the year.

Initial claims for unemployment increased by almost 3,700 in March to 11,121, a jump of 49.6% from last month, and 39% from March 2001. Part of the reason for the significant increase was federal legislation that temporarily extended unemployment benefits and created new eligibility for certain unemployed persons.

The regional breakdown saw Anchorage's unemployment rate mirror the movement of the state as a whole, increasing a tenth of a percentage point to 5.0%. Fairbanks saw a slight decline over the month, from 6.6% in February to 6.4% in March. Juneau's unemployment rate fell more noticeably, dropping from 6.0% in February to 5.6% in March. The Southeast Region as a whole saw a decrease from 9.7% to 9.2%. In contrast, the Southwest Region's rate increased a full percentage point from 9.8% to 10.8%, and the Northern Region saw an increase of 1.4 percentage points from 11.2% in February to 12.6% in March.

Wage and salary employment figures for March show very modest growth. The state has added about 3,800 jobs since March 2001, a growth rate of 1.4%. Approximately 3,000 of the new jobs have come from retail trade and the services industries. Those areas, combined with growth in state and local government, have compensated for some over-the-year job loss in the oil industry and seafood processing.

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