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Unemployment Rate At 7.1% In October

Southeast Alaskas Island News of Thorne Bay, Alaska

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Alaska's seasonally adjusted unemployment rate was 7.1% in October, according to preliminary estimates. October's rate was four-tenths of a percentage point lower than September's 7.5% percent.

The significant decline in the October seasonally adjusted unemployment rate reversed the summer's upturn. No defi nitive trend in Alaska's rate in either direction has been evident this year.

The national seasonally adjusted rate was 7.9% in October, which was essentially unchanged from September's 7.8%. The U.S. rate has fallen more than two percentage points from its recession high of 10.0% in 2009, although it remains well above pre-recession levels. October marks the 48th consecutive month that the national rate has been higher than Alaska's.

October rates for Alaska's boroughs and census areas which are not seasonally adjusted varied widely. The highest rate was in Wade Hampton Census Area at 19.2%. The City and Borough of Juneau had the lowest unemployment rate in October, at 4.3%.

The biggest over-the-month change was in the Municipality of Skagway, where September's 2.4% unemployment jumped to 17.3% in October with the end of the tourism season.

Contact: Caroline Schultz, Economist - (907) 465-6027

Copyright 2012 Southeast Alaska's Island News, Thorne Bay, Alaska. All Rights Reserved. This content, including derivations, may not be stored or distributed in any manner, disseminated, published, broadcast, rewritten or reproduced without express, written consent from SmallTownPapers, Inc.

Original Publication Date: November 21, 2012

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