Alaska Economic Trends Projects 47,700 More Jobs By 2010

May 2, 2002
No. 02-25

Between 2000 and 2010, Alaska's economy will grow by another 47,700 jobs, according to the Alaska Department of Labor and Workforce Development (DOL) in the May issue of Alaska Economic Trends.

With a more diversified economy, Alaska has better weathered high and low oil prices, fluctuating fish harvests, and hot and cold tourism numbers than it has in the past, according to DOL's labor economists.

Regionally, Anchorage employed the majority of Alaska's workforce with 47% in 2000. This number is projected to grow to 48.2% by 2010. Fairbanks' share of the workforce is expected to increase slightly from 12.1% in 2000 to 12.4% in 2010. While the Mat-Su Valley is projected to increase from 4.5% to 5.3% in 2010, workforce projections in Southeast Alaska and the rest of the state will show a slight decline in the next decade.

Hospitals and health institutions, major players in the services industry, are expected to continue to grow primarily to serve the projected doubling of Alaska's over 55 age group. The services sector is expected to add more than 30,000 jobs to state wage and salary employment in the next ten years. Growth in this sector will be shared throughout the state.

Two-year forecasts for Anchorage, Fairbanks, Southeast as well as statewide are also included in this month's edition. In other Trends news, Alaska's unemployment rate in February of 5.9% was the second lowest of the five Pacific states, topped only by Hawaii at the height of its tourist season.

Alaska Economic Trends is available online at online. 

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