Juneau, Alaska (KINY) -The October edition of Alaska Economic Trends published by the State Department of Labor and Workforce Development looks at the job turnover rate in Alaska.
Research Analyst Mali Abrahamson in the department's Research and Analysis Unit authored the piece. She says they use two rates to calculate turnover. "We use the rate of entry and the rate of exit and right now its down about 18 percent for both rates. So that's about, on average, 70,000 people out of a 400,000 workforce." She adds the rate has gone down over the last 15 to 16 years. "Back in 2000 it was about 23 percent."
The relationship between the rates flipped in 2016 because of people dropping out of the work force and employers shedding jobs. She said the rate of exit exceeded rate of entrance due to the loss in jobs.
So she says in a weak economy the exit rate exceeds the entrant rate. The opposite is true in a growing economy.
Abrahamson was among the guests on Action Line Tuesday.