Economic Data for Alaska

Gross Domestic Product

Real GDP (a measure of economic growth) increased from 2009-2012 but has declined since then, falling from $54,000 million to $47,000 million by 2017.

 

Jobs

Private-sector employers have added 13,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector added no net new jobs. There were 250,000 total jobs in the private sector in 2018, above pre-recession levels by 8,000. Average hourly wages in the private sector have grown since 2008, going from $25/hr to $29/hr in 2018.

Manufacturing employment increased since 2001. There were 14,000 jobs in this sector in 2018, up from 12,000 in 2001 and higher than pre-recession levels of 13,500. Average hourly wages of manufacturing employees have grown since 2000, going from $12.50/hr to $25/hr by 2018.

There were 22,750 jobs in the Transportation, Warehousing and Utilities sector in 2018, the same as before the recession, showing a full recovery in this sector. The average wage in this sector has been growing since 2008, going from $18.50/hr to $23.85/hr in 2017.

Unemployment

The unemployment rate in 2018 is 7.3%, up from the prior year’s 6.3% rate. This is far above the national average of 3.9% unemployment.

 

Housing

The House Price Index, a measure of the cost of housing, has increased since 2000, increasing from 177 to 270 in 2017.