Unemployment Rate Declines In July

 

Alaska's unemployment rate fell to 5.7% in July, a decrease of six-tenths of a percentage point. The decline marks a return to a more typical seasonal movement after an unexpected increase in the rate last month. The comparable national rate was unchanged over the month at 6.0%. Dan Robinson, a labor economist with the Department of Labor and Workforce Development, reported the numbers.

The number of unemployed Alaskans fell by 1,751 in July to 19,674, a decrease of 8.2% from June.

Anchorage�s unemployment rate fell one-tenth of a percentage point to 4.3%. Fairbanks saw its rate drop five-tenths of a percentage point in July to 4.8%. Juneau saw similar movement, with a decrease of three-tenths of a percentage point to 4.4%. The unemployment rates for Anchorage and Juneau remain slightly higher than in July 2001, while Fairbanks� rate exactly matches that of a year ago.

Most other areas of the state also recorded lower unemployment rates in July. The most dramatic drop was in Kodiak where the rate fell from 14.9% in June to 4.4% in July. Driving the change was a precipitous drop in unemployment for the month. In June there were 1,190 unemployed persons in Kodiak; by July the number had shrunk to 338. Every region in the state saw over-the-month declines in their unemployment rates, although most are now slightly higher than they were in July 2001.

The Wade Hampton Census Area�s unemployment rate dropped several percentage points to 20.7% in July, still the highest rate in the state. The Aleutians East Borough recorded the state�s lowest rate at 2.1%.

Preliminary wage and salary employment estimates for July indicate that the state added approximately 7,700 jobs over the month. The estimates also show an over-the-year increase of about 1,900 jobs, or 0.6%. The construction industry is showing impressive growth so far in 2002. The service and trade industries also continue to add jobs, while manufacturing and mining are down over the year.

Contact:   Dan Robinson, Labor Economist, Juneau (907) 465-6036
Fairbanks toll free number (800) 476-9900