Alaska’s unemployment rate has reached its lowest level ever, highlighting an extremely tight labor market that creates headaches for employers who need workers, but also advantages for potential workers who can shop for the highest wages.
• Preliminary data for wage growth in 2021, the most recent available, is fairly strong.
Helping create the tight job market is a relatively small labor pool in Alaska. The total number of employed and unemployed people in Alaska reached nearly 362,000 in April, higher than in recent years, but less than in 2016.at just under 743,000 people in 2016, before trending downward thanks in part to outmigration associated with a strong Lower 48 economy. That shrinking population has contributed to a shrinking labor pool.
The current conditions have created an “incredible” demand for job seekers, who are in relatively short supply, he said. That’s an unusual outcome for a recovery, which is typically an employer’s market rather than a job seeker’s, Fried said. at a pace she’s never seen before. People looking for jobs are also in the driver’s seat like never before, she said.
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