What is the unemployment rate in Alaska?
For those wondering, “What is the unemployment rate in Alaska?” the answer is 6.6 percent as of 2017. Alaska has the second-highest jobless rate in the country unfortunately. Comparatively, the overall unemployment rate in the U.S. is around 4.4 percent in 2017. The reason behind such a high unemployment rate in Alaska is due largely in part to the amount of jobs that were lost within the Alaskan economy in the past year or so. The sectors that were hit the hardest interms of job loss included the oil, gas, mining and logging sectors. The Department of Labor and Workforce Development saw an overall decline of 19.7 percent from their 2016 employment numbers. As of December 2016, Alaska declared a statewide recession due to the decline in jobs in addition to the crashing oil prices. The projection for such a high unemployment rate in Alaska and the current recession is around three years.
However, for those individuals who are finding difficulty with unemployment in the state of Alaska, there may be a solution. Unemployment insurance benefits in Alaska are available to those who are eligible. Each state varies in terms of eligibility requirements, so understanding the application process for Alaska is integral prior to applying. For example, Alaska uses a base period of 18 months to determine eligibility, and within those 18 months, an individual must have earned at least a total gross income of $2,500 over two calendar quarters.