Alaska Employment: 2024 Ended with 1.9% Annual Job Growth
Photo Credit: FUNTAP P | DREAMSTIME
Over the course of 2024, Alaska’s labor force added 6,000 jobs, a 1.9 percent increase over the year before. Given the state’s population grew significantly less than that, job growth is outpacing the number of Alaskans trying to fill them.
Few Fluctuations All Year
The Alaska Department of Labor and Workforce Development puts the seasonally adjusted figure for December at 4.7 percent, up slightly from November’s 4.6 percent. Month-to-month rates hardly strayed from that narrow band all year, only slightly higher than in 2023.
The statewide unemployment rate in December tracked with the national rate of 4.1 percent, down slightly from the previous month.
The unadjusted unemployment rate in the Anchorage area fell to 4 percent in December, exactly where it was a year earlier. The only municipalities with lower rates in December were Juneau at 3.6 percent and Sitka at 3.1 percent.
The total number of nonfarm jobs in December was 322,800, a drop from a revised 323,000 in November but 6,000 more than a year earlier. The private sector led with 2.1 percent annual job growth, while the government sector grew by 1.4 percent.
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January 2025
The manufacturing sector, largely driven by seafood processing, saw the largest annual percentage drop, losing 400 jobs compared to December 2023, or a loss of 6.1 percent. The much larger retail sector also shed 400 jobs year-over-year, for a 1.1 percent decrease, while a long-running trend of job losses in the financial and information sectors ended, each holding steady in December.
The oil and gas sector saw the biggest percentage gain, rising by 600 jobs since December 2023, for 7.7 percent growth. Construction, despite contracting by 400 jobs since November, posted 6.8 percent growth by adding 1,100 jobs year-over-year. Healthcare added 1,400 jobs, for 3.4 percent growth, and the transportation, warehousing, and utilities sector was up by 1,000 jobs, for 4.5 percent annual growth.
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