The Alaska Department of Labor and Workforce Development reports that the seasonally adjusted unemployment rate for December stands at 4.7%. There is a slight increase from 4.6% in November. Throughout the year, the month-to-month rates remained within this tight range which is only marginally higher than those recorded in 2023.
In December, the statewide unemployment rate was the same as the national figure of 4.1% which saw a slight decline from the month proper. In the Anchorage area, the unadjusted unemployment rate dropped to 4% in December matching the rate from the same month last year.
The only areas with lower rates were Juneau at 3.6 percent and Sitka at 3.1 percent. The total number of nonfarm jobs in December reached 322,800, a decrease from the revised 323,000 in November, yet still 6,000 more than the previous year.
The private sector led the way with an annual job growth of 2.1% while the government sector experienced a 1.4% increase. The manufacturing sector which is mainly influenced by seafood processing faced the steepest annual decline. It lost 400 jobs as compared to December 2023, equating to a 6.1% drop.
The larger retail sector also saw a reduction of 400 jobs year-over-year, reflecting a 1.1 % decrease. However, the long-standing trend of job losses in the financial and information sectors came to a halt, with both remaining stable in December.
On a brighter note, the oil and gas sector experienced the most significant percentage increase which added 600 jobs since December 2023, marking a growth of 7.7%.
Despite a contraction of 400 jobs since November, the construction sector still achieved a 6.8% growth by adding 1,100 jobs as compared to the previous year. Healthcare saw an increase of 1,400 jobs while the transportation, warehousing, and utilities sector gained 1,000 jobs.
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