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2016 Alaska Economic Trends

Alaska Economic Trends are searchable from 1978 to the present using the Trends search page. The search can include any combination of the title or subtitle, date or date range, author, or full text.


February 2016 Is Alaska in a Recession?
Click to read February 2016 Alaska Economic Trends

Talk of Alaska being in a recession — or heading for one — has grown over the last year as oil prices have plunged. But what exactly is a recession, and what does it mean if we’re in one?

For states, there’s no accepted definition on of a recession, and coming up with one isn’t clear-cut. Nationally, the National Bureau of Economic Research — a private, nonprofit research group — and its Business Cycle Dating Committee are the recognized authority on identifying when the country entered a recession and when it ended. For example, the most recent national recession, often called the “Great Recession”.
February 2016 Trends

   
January 2016 Employment Forecast for 2016
Click to read January 2016 Alaska Economic Trends

Alaska’s economy faces significant headwinds in 2016, largely due to sustained low oil prices. The state is forecast to lose about 2,500 jobs in 2016, a 0.7 percent decline, after gaining 1,700 jobs in 2015.

This would be the first year of job losses since 2009, when Alaska felt the wake from the national recession. The state’s job growth rebounded quickly in 2010 and remained relatively strong through 2012, buoyed by the federal stimulus package, large capital budgets, and high oil prices. Growth slowed to a crawl in 2013, and employers added jobs at a yearly rate of half a percentage point or less between 2013 and 2015.
January 2016 Trends

   

 

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Page Updated February 9, 2016