Department of Labor and Workforce Development Reports Economy Growth in Wages

    Juneau, AK (KINY) - Most areas of Alaska's economy saw an increase in total wages for the first quarter of 2017. Wages have increased by about 0.6 percent from that same period in 2016 or around $25 million overall.

    This growth is a positive sign, as total wages have been on the decline for the past four quarters. Wages haven't been adjusted for inflation for this data.

    To be more specific, wages in oil and gas and construction fell by over 10 percent, 14 and 10.8 percent respectively. Health care wages grew by 11.4 percent, while transportation and warehousing also grew by 4.9 percent.

    Federal government wages were also on the rise at 1.5 percent. State government saw a fall of 3.5 percent, but local government wages increased by 4.4 percent.

    Wages increased in 22 of 29 boroughs and census areas. Wages in Anchorage increased by 0.4 percent, in Fairbanks by 3.3 percent, and in Juneau by 0.6 percent. Seafood processing drove wage increases in the Aleutians East (13.4 percent) and Lake and Peninsula (20.8 percent) boroughs. Bethel’s 9.5 percent wage increase was mainly due to growth in health care and local government.

    While most areas’ wages grew moderately over the year, wages in the North Slope Borough fell by 9.8 percent, propelled by reduced employment in the oil and gas industry. Losses in mining and construction contributed to wage losses of 2.7 percent in the Southeast Fairbanks Census Area.

    This data comes from the Alaska Department of Labor and Workforce Development. For more a detailed breakdown of these stats, go to http://laborstats.alaska.gov/

     

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