June 23, 2002
Monday - 12:15 am

Alaska's unemployment rate fell to 5.8% in May, a decrease of nine-tenths of a percentage point from April's rate of 6.7%. The decline marks the beginning of Alaska's busy summer employment season. The comparable national rate fell two-tenths of a percentage point to

------ May Unemployment For Selected Areas U.S. -5.5% Alaska -5.8% Anchorage -4.1% Fairbanks  -5.0% Juneau -4.2%  Ketchikan -7.2% POW-Outer KTN 11.1% Sitka Borough -5.2% Wrangell-Petersburg -6.8% Wade Hampton 22.3%

5.5%. Dan Robinson, a labor economist with the Department of Labor and Workforce Development, reported the numbers.

The number of unemployed Alaskans fell by more than 2,300 in May to 19,205, the lowest number reported in the month since 1998. Compared to May 2001, Alaska has almost 500 fewer unemployed persons, a decline of 2.4%. Initial claims for unemployment benefits fell sharply over the month to 7,354.

Anchorage's unemployment rate dropped five-tenths of a percentage point to 4.1%, matching the rate recorded a year ago in May 2001. Fairbanks saw an even bigger decline, dropping eight-tenths of a percentage point to 5.0%, noticeably lower than its May 2001 rate of 5.6%. Juneau's unemployment rate fell seven-tenths of a percentage point over the month to 4.2%, slightly lower than the May 2001 rate of 4.4%. Aleutians East Borough once again recorded the lowest unemployment rate in the state at 3.8%; Wade Hampton also repeated as the borough or census area with the highest rate in the state at 22.3%.

Most of the state's six economic regions saw lower rates over the month with the Northern and Southwest Regions the exceptions. Nearly all of the regions also show rates that compare favorably with those recorded in May 2001. The Gulf Coast Region's rate of 8.2% is more than a full percentage point lower than May 2001's rate of 9.3%. The Interior Region also saw a significant over-the-year decline, falling from 6.3% in May 2001 to 5.7% in May 2002. The Anchorage/Mat-Su, Southeast, Southwest, and Northern Regions all recorded rates that are roughly equivalent to those of May 2001.

Preliminary wage and salary employment estimates indicate that the state added approximately 11,800 jobs in May. The estimates also show an over-the-year increase of about 2,300 jobs. Most of the over-the-year growth comes from trade, services and government. Oil and gas, logging, and seafood processing are all down over the year.

Ketchikan's unemployment rate dropped 2.4 percentage points to 7.2%. April's reported unemployment rate was 9.6%.

Click on this link for a detailed report:

Labor Force by Region and Census Area

 

Source of News Release:

Alaska Department of Labor
Web Site

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