January 25, 2022
Summary
Alaska added 900 net payroll jobs and the unemployment rate fell by 0.3 percentage point to 5.7 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, Alaska added 6,900 payroll jobs and the unemployment rate fell by 0.8 percentage point from 6.5 percent.
In December, Alaska’s private sector added 1,100 net private payroll jobs and over the past twelve months it added 8,800 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 805 on net in December, and over the past year employment rose by 950.
Alaska’s labor force participation rate rose to 64.7 percent in December from 64.5 percent. Since last year, the labor force participation rate fell by 0.3 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
Alaska Payroll Employment
Alaska added 900 net payroll jobs, or 0.3 percent, on a seasonally adjusted basis during December. In the prior month, Alaska lost 500 jobs. Over the past twelve months, Alaska added 6,900 payroll jobs, or 2.3 percent. Alaska nonfarm payroll employment had increased in 8 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. Alaska ranks 43rd among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, Alaska’s private-sector added 1,100 jobs, or approximately 0.5 percent. The private-sector in Alaska lost 400 jobs in the prior month. Over the past twelve months, private-sector payrolls in Alaska added 8,800, or 3.9 percent. Alaska private-sector payroll employment has increased in 8 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. Alaska is tied for 24th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Trade, Transportation, and Utilities (800) and Mining and Logging (200). The poorest performing sectors during the month were Manufacturing (-200) and Government (-200).
The best performing sectors during the last twelve months were Trade, Transportation, and Utilities (2,600) and Leisure and Hospitality (2,300). The poorest performing sectors during the last twelve months were Construction (-1,000) and Government (-1,900).
Alaska Labor Force Statistics
Labor Force Participation
The labor force participation rate in Alaska rose to 64.7 percent in December from 64.5 percent in the prior month. At a labor force participation rate of 64.7 percent, Alaska ranks 14th in the nation. The labor force participation rate in Alaska fell by 0.3 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Alaska was 68.7 percent in December 2011. The series high for the labor force participation rate in Alaska occurred in December 1989 when the labor force participation rate hit 75.3 percent. The 10-year low for the labor force participation rate was 61.1 percent , last occurring in September 2020. This also represents the series low for the labor force participation rate in Alaska.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Alaska civilian noninstitutionalized population 16 years and older counted as employed, in December rose to 61 from 60.6 percent in the prior month. At 61 percent, Alaska is tied for 15th among state employment-to-population ratios in the nation. The employment-to-population ratio in Alaska rose by 0.3 percentage point from a year earlier.
The 10-year high for the employment-to-population ratio in Alaska was 63.5 percent last occurring in January 2012. The series high for the employment-to-population ratio in Alaska occurred in December 1989 when the employment-to-population ratio hit 69.8 percent. The 10-year low for the employment-to-population ratio was 55.9 percent last occurring in May 2020. This also represents the series low for the employment-to-population ratio in Alaska.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.