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Ketchikan's Unemployment rate falls to 8.5 percent in March


April 28, 2006

Ketchikan, Alaska - Ketchikan's unemployment rate fell in March to 8.5 percent, down from 9.3 percent in February. The Alaska Department of Labor & Workforce Development reported a labor force of 7, 109 for Ketchikan in March. Of Ketchikan's labor force, 604 were reported as unemployed in March.

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Labor Report by Borough
Click on graphic for a larger image.

Alaska's unemployment rate fell five-tenths of a percentage point in March to 7.7 percent, according to the Alaska Department of Labor & Workforce Development. The March rate was two-tenths of a percentage point higher than March 2005's rate of 7.5 percent, marking the first time in 24 months that the unemployment rate hasn't shown an over-the-year decline.

According to the Alaska Department of Labor, it will take several more months of data, however, before any conclusions can be drawn about a change in the downward trend of unemployment rates statewide. The statistics are in large part based on a survey of only about 1,000 Alaska households and are prone to considerable month-to-month variability.

Statewide the total nonfarm employment rose by 3,000 in March to 301,400. The gains were scattered across a variety of industries as the state's seasonal employers continued their gradual build toward the peak months of summer.

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Also contributing to the monthly gains statewide were industries such as oil and gas and health care, both of which have been growing at a healthy rate unrelated to seasonal trends. Oil and gas employment increased by 200 in March and health care employment by 300.

Statewide, the March job count was 5,300 higher than in March 2005, an over-the-year growth rate of 1.8 percent. Growth in that range continues the trend from 2005, which saw a modest acceleration in job growth from the two previous years. In 2005 the state added jobs at an average rate of 1.9 percent compared to 1.6 percent in 2004 and 1.4 percent in 2003.


Source of News:

Alaska Department of Labor & Workforce Development

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Ketchikan, Alaska