Alaska Employment: 339,100 Jobs Drops Unemployment in May to 4.5 Percent
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An increase of more than 9,000 jobs compared to a year before—for a third month in a row— kept the state’s unemployment rate from rising. The Alaska Department of Labor and Workforce Development puts the seasonally adjusted figure for May at 4.5 percent, down from 4.6 the month before.
2.8 Percent Job Growth
The statewide rate in May compares to the national rate of 4 percent, which was a slight increase from April. Rates have more than recovered from levels prior to the COVID-19 pandemic; unemployment rates in Alaska were typically higher than 6 percent prior to the oil price crash of 2014.
The unadjusted unemployment rate in the Anchorage area fell to 3.9 percent in May, down from 4.1 in April. The only region with a lower rate was Southeast, down from 4.1 percent to 3.5 in May, mostly reflected by seasonal hiring in Haines and Skagway. From near 8 percent unemployment claims in April, both towns dropped to 5.7 percent in Haines and 3.1 percent in Skagway. Only Juneau’s 3 percent and Sitka’s 2.9 percent were lower.
Current Issue
February 2025
The total number of nonfarm jobs in May was 339,100, up by more than 10,000 from April and an increase of 9,300 compared to May 2023. Jobs added in the past year represent 2.8 percent growth. Private sector employment grew by 3.2 percent since last year, outpacing government job growth of 1.5 percent.
The information services sector held steady month to month, but the drop from 4,600 jobs a year ago to 4,400 in April represents a 4.3 percent contraction, the largest of any industry. Financial activities was the only other sector to lose jobs year-over-year, from 11,000 to 10,900, yet financial employment was up by 100 in May compared to April. Both sectors have seen long-term losses.
The construction sector saw the biggest percentage gain, with 14.5 percent more jobs in May than the year before, climbing from 17,300 to 19,800. Those 2,500 new jobs outpaced strong growth in the healthcare and transportation, warehousing, and utilities sectors. Oil and gas jobs increased by 700 since 2023, totaling 8,100 in May.
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Architecture & Engineering + Interior
February 2025
In our February 2025 issue, we highlight how architecture and engineering improve every facet of our daily lives, from increasing the availability and affordability of housing to building small businesses and improving community safety. Projects like these are helmed by Alaska’s exceptional professionals, including the 2024 Anchorage Engineer of the Year Nominees. In the Interior, Red Dog Mine and the Fountainhead Antique Auto Museum are both making big moves. Enjoy!