May’s job count was up by 5,800, or 1.8 percent, from May 2022.
Most Alaska industries grew or remained flat over the year, with two exceptions: manufacturing (-500 jobs over the year) and information (-100). Manufacturing employment, which is mostly seafood processing in Alaska, can vary considerably from year to year. Information has been on a long, gradual decline as the industry adjusts to changing technology.
The Kenai Peninsula Borough, not seasonally adjusted unemployment rates, dropped from 4.5 in April to 4.0 in May 2023.
Leisure and hospitality grew the most at 2,600 jobs over the year and exceeded its pre-pandemic job levels. Professional and business services added 800 jobs, followed by health care at 600.
The public sector added jobs over the year, led by federal government (+400). Local government, which includes public schools, was up by 300 jobs and state government by 200. State and local government both remain below pre-pandemic levels.
Alaska’s seasonally adjusted unemployment rate dropped to 3.6 percent in May and the comparable U.S. rate increased to 3.7 percent. Alaska’s unemployment rate is typically higher than the nation’s, but that trend has been less consistent during pandemic recovery.
