More jobs forecasted for Anchorage

July 28, 2010|by Christine Kim

ANCHORAGE, Alaska — The Anchorage Economic Development Corporation is forecasting higher employment numbers for the city.

Last year, Anchorage saw employment numbers fall for the first time since 1988. The drop was small compared to the rest of the country, but it was still a drop.

At an annual investor luncheon Wednesday, the AEDC revealed a mid-year update on the Anchorage economy and said we can expect a turn for the best. The AEDC expects more jobs in Anchorage for the next three years.

This comes after a dip in employment last year where Anchorage lost 900 jobs, but, according to the AEDC, if you put the numbers in perspective that's minor compared to the rest of the country.

The national job loss was 4.3 percent last year compared to less than a one percent loss for Anchorage.

"What will be interesting is if the economy starts to pick up, what will Anchorage do? Will it get its share of the new growth or will it not? Right now, we see that a lot of the resource rich areas are holding up much better than either of the coasts," said Joel Kotkin, author and Forbes columnist.

For the first six months of this year, numbers are down in multiple sectors including construction, retail trade, and oil and gas, but the figures so far, are suggesting a brighter future.

"So far this year we're only down less than 200 jobs compared to the same six months last year," said Bill Popp, AEDC.

Despite a decrease last year, growth is expected by next year and to continue through 2013.

Also, according to the AEDC, the health care and government sector is continuing to grow, despite the national recession.

"Anchorage was an island of stability in the national storm we saw that was caused by the recession from the economic point of view. We were a great place to be the last couple of years," said Popp.

The AEDC also announced that air cargo and the transportation industry is showing solid signs of growth that may increase the number of jobs in the future.

"Bumps in the road could happen, but overall, right now we know what we can see the forecast is optimistic," Popp said.

The AEDC also predicted that next year the total population in Anchorage will surpass the 300,000 milestone.

Contact Christine Kim at ckim@ktuu.com.

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