Alaska by the Numbers – August 2020 Edition
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
Alaska by the Numbers – FY20 Totals
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 […]
Flattening the Recession Curve
You’ve probably heard the phrase “flatten the curve” quite a bit over the last month. It’s been popular when talking about the current pandemic. Economists use a similar model, except that we want money to pass from person to person as fast as possible. The tie between epidemiology and economics […]
The Economic Damage of the Pandemic
At this point, you’ve probably heard more about the COVID-19 than you can stand. I feel you. And I don’t want to pile on to the discussion about the disease itself. But, the measures to protect public health will have economic consequences. While doing a full analysis of that economic […]
Why is Alaska’s Population Declining?
The Department of Labor published Alaska’s annual population numbers in January. It shows a reduction of 3,048 people in FY19. That is the third annual loss in population in a row. On a quarterly basis, the available U.S. Census data suggests we’ve been losing population for 12 consecutive quarters […]
Like It or Not, Alaska’s Economy is Growing
It was over a year ago that I pointed out that Alaska was on the verge of a recovery. Wages were starting to grow again, and I predicted that jobs would follow suit. When we look at the data today, it’s clear that those predictions came true. Yet, I still […]
Jobs Forecast Challenge: Me vs ISER
On Monday, ISER gave a presentation that suggested the vetoes would cost the economy 4,217 jobs and would send the State whirling back into a recession. I disagree. While it’s ok for us to have different ideas, only one of us will be right. Unfortunately, most people don’t care to […]
Thoughts on the Permanent Fund Investing in Alaska
Most people who read this blog are already aware of the recent decision by the Alaska Permanent Fund Corporation (APFC) to dedicate 5% of the fund’s balance toward investing in Alaska. The resolution, passed last week, initiated the process with $200 million of seed money out of the existing “special […]
How Important is the PFD to Alaska’s Economy?
In about a week, a total of $1 billion will be deposited into bank accounts across Alaska. Over 600,000 Alaskans will receive $1,600 each to spend however they choose. You will see just about every business in Alaska competing to capture a share of that bump in income. Clearly, the […]