October unemployment in Anchorage was 4.7 percent, up 0.3 percent from September but still well below the national rate of 7 percent, according to the latest employment report released by the Anchorage Economic Development Corp. and sponsored by First National Bank Alaska. With seven of the past eight months’ rates lower than 5 percent, the 2013 annual rate is expected to be less than five as well.
“October generally sees a lower rate than September, so the uptick was a bit unusual,” said Bill Popp, AEDC President and CEO. “But despite the rise, the fact that the unemployment rate in Anchorage remains well below both the national and statewide rate is indicative of a strong local economy and a well-employed workforce.”
The average year-to-date non-seasonally adjusted unemployment rate in Anchorage was 4.9 percent at the end of October, 0.6 percent lower than the 2012 year-to-date average. The total number of unemployed people in Anchorage is estimated at 7,379, 55 less than October 2012. The monthly unemployment rate in the Mat-Su and Kenai Peninsula Boroughs has decreased 14 and 13 percent respectively from 2012 year-to-date.
The number of jobs in Anchorage has seen a total net increase of 1,000 jobs so far in 2013, with the private sector growing by 1.5 percent, or 1,840 jobs. Seven of the 10 major job sectors’ October 2013 averages are above the year-to-date monthly average, indicating that the increase in jobs is likely to remain through the year. Government employment declined by 840 jobs so far with losses split between federal and local governments.
The goods producing category, which includes oil and gas, manufacturing and construction, is showing the most growth at 710 more jobs year-to-date than over the same period in 2012. The oil and gas sector is leading the way with a growth rate of 10.22 percent, an increase of 330 jobs since last year at this point. An increase of jobs was also seen in the construction industry, with October’s estimate of 9,300 jobs the highest October estimate since 2009.
Services providing jobs totaled 143,200 in October. Of these industries, which include engineering, education, retail, tourism and health care, educational and health services are showing the most growth at an increase of 2.81 percent year-to-date. Accommodation and food service sectors are also seeing growth, indicating a positive trend in the tourism industry.
The professional and business services sector continues to improve and is up 2.35 percent, or 470 jobs from 2012. The growth in this industry can be directly linked to growth in other industries such as oil and gas, construction and transportation.
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(ANCHORAGE, Alaska) - The Alaska Department of Transportation and Public Facilities' Ted Stevens Anchorage International Airport (ANC) today announced the completion of the Economic Impact Study for Lake Hood Seaplane Base (LHD). The report was commissioned in conjunction with the Anchorage Economic Development Corporation (AEDC) and was completed by the McDowell Group. The full report is available on the ANC website or by CLICKING HERE.
General aviation, particularly that generated from Lake Hood Seaplane Base, was at the heart of settlement and growth in remote areas of Alaska, and is part of the proud roots of the state's aviation history. The economic impact study defines the current economic importance of the beloved landmark and helps identify how relevant the airport is for Alaskans.
Key findings in the study are:
• LHD has a total economic impact of $42 million. The direct economic impact is $25 million, and indirect impact is $17 million.
• Including direct, indirect and induced employment, LHD accounts for an estimated 230 jobs in 2012. This translates into approximately $14 million in labor income in 2012.
• LHD supports additional economic activity with many businesses and communities that rely on flight service provided by air charter operators, including fishing, hunting and wildlife viewing lodges.
• The majority of the 23,000 non-resident Alaska visitors who purchased a flightseeing tour from May 2011 to April 2012 flew out of LHD.
• Resource development, including mining exploration in Southwest, Southeast and Interior Alaska; oil and gas production in Cook Inlet, and resource and infrastructure development supporting private sector and government environmental research programs, are supported out of LHD.
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