These are free monthly updates about what’s going on in Alaska’s economy.
November 2020 was a month of resolving uncertainty and moving back toward normal. Alaska’s economy still faces significant headwinds, but recovery is in sight. Here are some of the highlights. Alaska’s labor market improved, but is still hurting The Alaska Department of Labor reports that Alaska’s official unemployment rate is back to pre-pandemic levels. The[…]
The Covid-19 pandemic is increasing around the world again as the cold weather season begins — just as every predictive model in the world suggested it would. Calls for aggressive actions to combat the virus are wreaking havoc on the markets. Fears of another round of shut-downs bring back bad memories of negative oil prices[…]
With the first quarter of fiscal year 2021 in the books, there is still a lot of uncertainty in the air. But, a sense of optimism remains. The economy is slowly recovering, oil price stayed flat, production is looking better, and investment earnings are strong. Here are a few highlight from September 2020. The economy[…]
The economy is slowly starting to recover, oil prices hit a plateau, and North Slope production is back to full rate.
Alaska by the Numbers – August 2020
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Fiscal year 2020 came to an end on June 30th, 2020. Most of the official data for the year are now available. Here is a brief wrap up of how the year went. After 9 months of gains, Alaska ended the year down 40,000 jobs Alaska’s economy was up 1,700 jobs during the first three[…]
Here is your monthly round-up of what happened to Alaska’s economy and financial situation. The unemployment rate hit a record high The Department of Labor data for April gives us the first official glimpse at just how bad the pandemic hit our economy. It shows a seasonally adjusted rate of 12.9% (The unadjusted rate stands[…]
Most Alaskans spent a lot more time at home in April than they usually would. Many businesses were closed and a significant share of the labor force worked from home. The Coronavirus Pandemic generally trended downward during the month of April, ultimately leading to some restrictions getting lifted by the end of the month. Here[…]
March was a crazy month. It’s almost unbelievable how quickly the world changed in response to the COVID-19 pandemic. Here are some quick highlights about how Alaska’s finances and economy were impacted by the pandemic. The Stock Market Collapsed March began with the Dow at 26,703. By the end of the month, it was down[…]
Welcome to this month’s round-up of what happened in Alaska’s finances. It was a tough month for oil and equities, mostly due to the panic around the novel coronavirus. That’s making our already difficult financial situation even more challenging. The Permanent Fund Gave Back Its Earnings The Alaska Permanent Fund Corporation website reports total asset[…]
Here is your monthly update on some of the things that impacted Alaska’s finances and economy. The Legislature Gaveled In on January 21st The primary responsibility of the legislature is to appropriate the money needed to run the state government. Unlike last year, the House Finance Committee got right to work. The subcommittees are currently[…]