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Katie Bender
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It took 157 days and two special sessions called by the governor, but the Alaska House and Senate have passed an operating budget for fiscal year 2018. The budget is a compromise of the two bodies that will allow the state to avoid a government shutdown on July 1. While... Continue reading
Posted 6 days ago at Alaskanomics
Today marks the official anniversary of the completion of the Trans-Alaska Pipeline System (TAPS). 40 years ago today the first oil flowed to Valdez through TAPS. This was the culmination of a three year, $8 billion project that employed approximately 700,000 people during construction. In the past 40 years, more... Continue reading
Posted Jun 20, 2017 at Alaskanomics
Alaska’s Department of Labor and Workforce Development released the Unemployment rate for May this morning. The seasonally adjusted rate remained virtually unchanged and sits at 6.7 percent in May. The National rate is 4.3 percent in the past month. The preliminary employment numbers show a 1.8 percent drop in jobs... Continue reading
Posted Jun 16, 2017 at Alaskanomics
A recent article in Alaska Economic Trends outlines the state of the housing market in Alaska. While the recession has slowed growth in the housing market, it remains healthy. Fewer homes are being built, but sale prices are stable, rising 2.6 percent from 2015 to 2016. Like many things in... Continue reading
Posted May 26, 2017 at Alaskanomics
(This update, provided by the Kenai Peninsula Borough mayor’s office, is part of an ongoing effort to help keep the public informed about the Alaska LNG project.) The Alaska Gasline Development Corp.'s LNG project application and accompanying resource reports are available online at the Kenai Peninsula Borough website: The state... Continue reading
Posted Apr 26, 2017 at Alaskanomics
The Anchorage Economic Development Corporation (AEDC) hosted its annual Economic Forecast Luncheon on Wednesday. The event is a chance to review the economic situation of the past year and look to the current year and what to expect for the future. Mayor Ethan Berkowitz highlighted a few items that he... Continue reading
Posted Feb 2, 2017 at Alaskanomics
The Alaska Department of Labor and Workforce Development released the December unemployment rate on Friday. Alaska ended the year with 6.7 percent unemployment, two percentage points higher than the national rate. Preliminary data shows a decline of 7,600 jobs compared to December 2015. Most of the private losses came from... Continue reading
Posted Jan 23, 2017 at Alaskanomics
From the Alaska Department of Labor and Workforce Development JUNEAU, Alaska—Detailed data released today for the first half of 2016 show that job loss in Alaska has spread to most sectors of the economy. Average monthly employment in the first six months of 2016 was down 5,530 jobs, or 1.6... Continue reading
Posted Dec 2, 2016 at Alaskanomics
Earlier this month, the Resource Development Council (RDC) hosted its 37th Annual Resources Conference. It’s the time of year when the resources industries come together to celebrate the accomplishments of the past year and look ahead to the coming year. Conference organizers took a new approach to the sessions with... Continue reading
Posted Nov 28, 2016 at Alaskanomics
As seen in Alaska Business Monthly. By Joe Beedle & Joe Schierhorn Brexit is an abbreviation for “British exit,” referring to the June 23, 2016, referendum whereby British citizens voted to exit the European Union. We would argue that Alaska’s exit or avoidance to deal with fiscal discipline amounts to... Continue reading
Posted Oct 7, 2016 at Alaskanomics
From Larry Persily: All 12 of Alaska LNG’s draft resource reports to the Federal Energy Regulatory Commission are now available on the Kenai Peninsula Borough website, totaling more than 120 files. Click here and select the report. (Some of the files are very large and download time will vary with... Continue reading
Posted Sep 15, 2016 at Alaskanomics
The Anchorage Economic Development Corporation (AEDC) hosted its annual 3-Year-Outlook Luncheon on Wednesday. In recent months, many have expressed concern about the future of the economy in Anchorage. There has been worry that it is a repeat of the crash of the 1980’s and many are wondering if it is... Continue reading
Posted Jul 28, 2016 at Alaskanomics
Governor Walker’s administration released a report of the consequences facing Alaskans as a result of the legislature’s failure to pass a sustainable fiscal plan. From his July 13, 2016 press release, the Governor said: “I thank the 29th Legislature for convening its fifth special legislative session to consider a truly... Continue reading
Posted Jul 13, 2016 at Alaskanomics
The new fiscal year starts on Friday and Governor Walker used his veto powers today to begin to fill the $4 billion hole in the State’s budget. The Governor announced a total of $1.3 billion in vetoes and savings. The single largest amount was the $665 million in the reduction... Continue reading
Posted Jun 29, 2016 at Alaskanomics
This week, Northrim Bank hosted three economic update luncheons in Anchorage, Juneau and Fairbanks. The annual luncheons outlined how businesses could ‘Learn to not only survive, but thrive in Alaska’s dynamic economy’. Speakers included Northrim Bank President, CEO and COO Joe Schierhorn; Northrim Bank Chairman, Joe Beedle; Northrim Bank SVP,... Continue reading
Posted Apr 13, 2016 at Alaskanomics
The State of Alaska, Department of Labor and Workforce Development released its monthly unemployment numbers on Friday. Alaska’s seasonally adjusted unemployment remained at 6.6 percent to kick off the New Year. The rate continues to be above the national average as the national economy grows. Most boroughs and census areas... Continue reading
Posted Mar 14, 2016 at Alaskanomics
Tis the season for forecast luncheons throughout Anchorage. One of the largest business events of the year is the AEDC Economic Forecast Luncheon, held on Wednesday, January 27. The format was like past events, with an introduction from the Anchorage Mayor, the Anchorage Economic Forecast from AEDC President and CEO... Continue reading
Posted Jan 29, 2016 at Alaskanomics
Taking a break from the State budget, the unemployment numbers were released by the Alaska Department of Labor and Workforce Development on Friday. December’s rate of 6.5 percent was virtually unchanged from November, which sat at 6.4 percent. This was also the case for the national number, which was 5.0... Continue reading
Posted Jan 26, 2016 at Alaskanomics
The Alaska Legislature is back in session this week and all eyes are on the budget. In two separate meetings on Wednesday, presentations were given by David Teal, the Legislature’s Chief Fiscal Analyst, and Diane Kaplan, President of the Rasmuson Foundation. Both discussed the current situation and the need for... Continue reading
Posted Jan 21, 2016 at Alaskanomics
The Alaska Department of Labor released its November unemployment numbers last week, and the seasonally adjusted rate for Alaska is holding steady at 6.4 percent. The rate has not changed since August. The national average was also the same as October, which was 5 percent. As noted by the Department... Continue reading
Posted Dec 22, 2015 at Alaskanomics
The Governor is required to present his budget to legislators by December 15 each year. This year had plenty of build-up to the release of the Governor’s plan. Groups of lawmakers, businessmen, and concerned citizens have been meeting for months in anticipation of how we will begin to solve the... Continue reading
Posted Dec 15, 2015 at Alaskanomics
The Resource Development Council hosted its 36th Annual Alaska Resources Conference on November 18 and 19 in Anchorage. Each year, members of the resources industry gather to discuss the past year’s accomplishments as well as look to the future of tourism, fisheries, oil and gas, mining and forestry. Governor Walker... Continue reading
Posted Nov 23, 2015 at Alaskanomics
Governor Walker’s administration unveiled the first part of their plan to bridge the budget gap on Wednesday. The plan would convert the Permanent Fund into an endowment-like fund that would take in oil income and generate annual revenue for the state. The changes would protect the state from the highs... Continue reading
Posted Oct 29, 2015 at Alaskanomics
The Alaska Department of Labor and Workforce Development released its September unemployment numbers on Friday. The seasonally adjusted rate for September has dropped slightly from August and is 6.4 percent. The non-seasonally adjusted rate began to climb as summer tourism and fishing winds down for the year. The non-adjusted rate... Continue reading
Posted Oct 18, 2015 at Alaskanomics
The State of Alaska Department of Labor and Workforce Development released its monthly employment numbers last week. Alaska is holding relatively flat with a seasonally adjusted rate of 6.6 percent, which is just below the three-year average of 6.8 percent. Alaska is still above the national average, which was 5.1... Continue reading
Posted Sep 24, 2015 at Alaskanomics