Here's how unemployment in Anchorage compares

Written by:
November 20, 2023

Here's how unemployment in Anchorage compares

Anchorage Borough/municipality's unemployment rate in September was 3.5%—ranked #21 highest out of 30 in the state.

Nationally, unemployment has leveled with pre-COVID rates, measuring between 3.5% and 4% for most of the past two years. Bureau of Labor Statistics data showed a 3.8% unemployment rate in September. Previously, unemployment skyrocketed to 14.7% at the height of the COVID-19 pandemic in April 2020, and those rates remained elevated through late 2021.

Though national unemployment has mostly normalized, local economies vary widely. Stacker used Bureau of Labor Statistics data to analyze unemployment in Anchorage Borough/municipality over time, and how it stacks up within Alaska and across the nation.

The unemployment rate in Anchorage Borough/municipality is 0.3 percentage points below the national level, and 0.6 percentage points below the state level. It ranks #21 among boroughs in Alaska—ranked first by the preliminary September 2023 unemployment rate, then breaking ties by the number of unemployed people. It trails behind Fairbanks North Star Borough, with an unemployment rate of 3.6%, but surpasses Chugach Census Area (3.4%).

In real terms, it means an estimated 5,230 of Anchorage Borough/municipality's approximately 151,241 working residents are out of a job at the moment. That's 454 more than last month and 1,374 more than a year ago. Some economists fret another recession may be on the horizon, which would drive unemployment up with business closures and layoffs.

This story was produced using automation across 3,100 counties, boroughs, and parishes, based on writing and data reporting by Paxtyn Merten.

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