Alaska by the Numbers – November 2020

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[…]

What Will the New Decade Bring for Alaska?

If you were on social media at all last week, you probably got your fill of reflections, resolutions, and predictions. Everyone wants to talk about what happened in 2019 and what 2020 will bring. But, we didn’t just turn the calendar this year – we changed decades. So, just for fun, here are some predictions[…][…]

Alaska By The Numbers – December 2019

Now that the holidays are over, it’s time to turn our attention back to Alaska’s financial problems. Here are some of the highlights of what happened in December 2019. The Governor Released His FY21 Budget Proposal The governor rolled out his proposed FY21 budget on December 11th. To the surprise of many observers, Governor Dunleavy[…]

Alaska By the Numbers – August 2019

A lot happened in Alaska during the month of August. Here’s the run down on how we read the headlines. BP and Hilcorp Agreed to Terms on Alaska Assets The news that broke the internet in Alaska last week was a press release from BP. They announced that they were selling all of their remaining[…]

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 find out why our ideas[…][…]

Guess Where Alaska Stands in the Oil Race

Back in the 1980’s Alaska was a powerhouse in the oil market. At the time, our young oil fields were the envy of our peers. Texas production was falling, approaching 2 million barrels per day from above as Alaska approached the same mark from below. Briefly, Alaska challenged Texas as the number one oil producing[…]

Alaska by the Numbers – FY19 Closing Edition

Now that my work with the new administration is done, I’m back to providing you with some light reading. Here’s your monthly breakdown of the things that I’ve been watching in Alaska’s Economy. Although, seeing as today is the first day of the new fiscal year, this edition provides insight into how fiscal year 2019[…]

Alaska by the Numbers – November Edition

Here’s the big news that broke last month, and how it impacts Alaska’s economy. GMT1 Production Started Ahead of Schedule ConocoPhillips announced that they started flowing oil from the Greater Moose’s Tooth Unit on October 5th. This is a full two months ahead of schedule. While initial flows are only around 8,000 barrels per day[…]

Exploring Alaska’s Budget: Part 1 – Speaking the Language

If you’re watching the gubernatorial debates, you’ve probably noticed that the budget is one of the hot topics. Some candidates say the budget is still too large, others say they’ve done as much as they can to cut it. I hear numbers get thrown around, so my economist ears perk up. Here we are, about[…]

3 Takeaways from Analyzing the PFD

One of the downsides of working alone, is the inability to bounce ideas off others. There is a lot of information gained from seeing brows furrow, lips curl, and eyes glaze over as you speak. Getting challenged to clarify a point or getting another perspective is tremendously valuable. For that reason, I am very grateful[…]