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[…]
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[…]
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[…]
Here is your free monthly update on what’s going on in Alaska’s economy. The Labor Market Keeps Improving According to the Department of Labor numbers released last week, Alaska extended its winning streak to 12 consecutive months of job growth. The jobs count in September 2019 was a total of 2,000 jobs higher than in[…]
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 hear people talking about being[…]
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[…]
Each Monday, I update my production and oil price models with the newest data from the week before. Then, I run a new set of simulations and post the results here and here respectively. Those numbers become inputs into a projection of State revenues. I also track changes in jobs, wages, investments, population, and GDP[…]
You’ve probably heard by now that Alaska currently has one of the highest unemployment rates in the nation. While this is true, it doesn’t quite mean what people think it does. Here a few reasons why. 1. Alaska has a higher “natural rate” of unemployment than other States There are many reasons a person might[…]