October 2024
Released November 19, 2024
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United States Employment Snapshot
In October, among the 50 states and the District of Columbia unemployment fell in 8, rose in 22, and remained unchanged in 21.
The highest unemployment rate was 5.7 percent in District of Columbia and Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate remained unchanged in October.
In October, payroll jobs rose in 21 states and fell in 30. The largest payroll job percent increase was 0.4 percent in Idaho. The largest payroll job percent decline was 1 percent in Washington.
Alaska Employment Snapshot
In October, Alaska lost 100 net payroll jobs and the unemployment rate rose by 0.1 percentage point to 4.6 percent. In the prior month, Alaska added 1,000 net payroll jobs.
Over the past 12 months, Alaska added 7,100 net payroll jobs and the unemployment rate remained unchanged.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Alaska is tied for 6th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
In October, Alaska’s private sector lost 200 net private payroll jobs, and over the past 12 months it added 7,700 private payroll jobs. In the prior month, Alaska added 1,200 net private payroll jobs.
In October, employment in Alaska rose by 31, and over the past 12 months it fell by 577.
Alaska’s labor force participation rate rose to 65 percent in October from 64.9 percent and is tied for 17th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.3 percentage points.
Alaska Payroll Employment
Alaska lost 100 net payroll jobs, or 0 percent, on a seasonally adjusted basis during October. In the prior month, Alaska added 1,000 jobs. Alaska nonfarm payroll employment has increased in 9 of the past 12 months.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Alaska is tied for 6th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
Alaska lost 200 private sector jobs, or -0.1 percent. on a seasonally adjusted basis during October. In the prior month, Alaska added 1,200 jobs. Alaska private sector payroll employment has increased in 10 of the past 12 months.
Nationally, private sector payroll jobs fell by 28,000 jobs in October, or 0 percent. Alaska ranks 1st in the nation for percentage gain in private sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during October were Manufacturing (400) and Mining and Logging (300).
The poorest performing sectors during the month were Trade, Transportation, and Utilities (-300) and Leisure and Hospitality (-1,200).
The best performing sectors during the last 12 months were Construction (3,400) and Education and Health Services (2,000).
The poorest performing sectors during the last 12 months were Information (-300) and Government (-600).
Alaska Labor Force
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 labor force participation rate in Alaska rose to 65 percent in October from 64.9 percent in the prior month.
Alaska is tied for 17th in the nation.
The 10-year high for the labor force participation rate in Alaska was 67.2 percent occurring in November 2014, and the 10-year low was 61.8 percent in April 2020.
The national labor force participation rate fell by 0.1 percentage points to 62.6 percent in October.