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Signs of a Strengthening Economy in Anchorage

Published On: Oct 09 2013 11:35:13 AM AKDT
Signs of a Strengthening Economy in Anchorage

The local economy is doing well and expected to stay on track, according to the Anchorage Economic Development Corporation. The group's mid-year review, plus a 3 year jobs forecast, was released on Wednesday.

AEDC says in 2012 the city saw employment growth of 2.2 percent, meaning about 3,400 jobs were added. This year the local economy has already added more than 1,500 jobs compared to the same period in 2012.

While Anchorage saw some job categories stay flat or decline, the overall jobs picture, according to AEDC, continues to move upward.

The professional and business service industry grew by about 1,300 jobs last year, followed by 800 jobs in health care. Government and oil and gas each saw an increase of about 500 jobs in 2012.

Transportation and retail industries had a flat year and information technology jobs showed a decrease last year

So far this year, government jobs have also showed a decrease of 700. AEDC says that can be attributed to government cut backs and teachers working less because less summer school classes are offered.

The employment outlook for the next three years shows an increase around 1.2 percent annually, with 1,900 to 2,000 new jobs each year.

 The AEDC also released its Anchorage Consumer Optimism Index which shows all time highs.

Contact Mallory Peebles