Juneau, Alaska (KINY) - The June edition of Alaska Economic Trends prepared by the Research and Analysis Unit of the State Department of Labor and Workforce Developmetn features an article on household debt in Alaska.
Household debt includes mortgage, auto, credit card and student loan debt.
The article was co-authored by unit chief Dan Robinson and economist Tiffany Wadel who were guests on Action Line Tuesday. Wadel determined that there's nothing special happening with Alaska when debt levels and delinquency rates are compared to other states. "We're about middle of the pack, about average. In every trend we have is very much a national trend so it looks like our debt levels are being pushed more by national factors than anything state specific. So I didn't see anything too concerning in this data."
The source of information for the article was data produced by the Federal Reserve Bank. The bank produces the data by examining a random sample of Equifax credit report information during the fourth quarter of each year.
The per capita household debt for Alaskans in the fourth quarter of 2017 was $57,850. Mortgage debt was the largest share of that at $41,580. Alaska had the tenth highest mortgage debt in the nation.
Alaska had the highest per capital credit card debt at $4,270.
Alaska ranked 13th for auto loan debt at $5,010 and 45th for student loan debt at $4,070