- 592 more businesses
- 11,933 more employees
- 18.7% increase in total wages
- $6,012 in additional annual wages per employee
- 13.0% increase in wages per employee
Since 2009, the number of businesses in Alaska has grown by 3.1% (6.4% less than the national average of 9.5%). Employment in Alaska has grown by 5.1% (9.4% less than the national average of 14.4%). Wages have grown by 13.0% since the end of the Great Recession. This wage growth is 9.6% less than the national average of 22.5%.
The average weekly wage in Alaska of $1,006 is 5.5% below the national average of $1,064. The gap between the national average has widened from 2.5% a widening of 8.0% since the end of the recession.
The Construction sector has the most businesses in the state of Alaska . Since the end of the recession, the number of businesses has grown from 2,441 to 2,435, a gain of -0.2%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||2,008||1,855||8.2%|
|Transport and warehousing||1,137||1,079||5.4%|
|Finance and insurance||712||808||-11.9%|
|Real estate and rental||669||624||7.2%|
|Arts and entertainment||583||532||9.6%|
|Mining and oil extraction||254||215||18.1%|
|Agriculture and forestry||240||164||46.3%|
The top two sectors for number of businesses both have suffered declines since the recession. As mentioned above, Construction lost some businesses, Retail trade the second highest number, lost 4.9% of its businesses. Finance and insurance (-11.9%) and Wholesale trade (-6.3%) also lost businesses. Two sectors with significant growth in Alaska are Healthcare (+16.3%) and Educational services (+26.1%)
The Healthcare sector employs the most workers in the state of Alaska . The number of jobs has increased 25.4% since the end of the recession from 37,044 to 46,450. The table below illustrates the change in employment in each sector:
|Accommodation and food services||30,296||26,622||13.8%|
|Transport and warehousing||19,634||19,314||1.7%|
|Mining and oil extraction||12,829||14,941||-14.1%|
|Finance and insurance||6,936||8,782||-21.0%|
|Arts and entertainment||5,075||4,494||12.9%|
|Real estate and rental||4,715||4,720||-0.1%|
|Agriculture and forestry||1,151||799||44.1%|
The Accommodation and food services sector added nearly 3700 jobs since the recession as its employment base grew by 13.8%. The Arts and entertainment sector is the only other sector (besides Healthcare as mentioned above) that employs over 5,000 people and grew by more than 10.9%. Arts grew by 12.9% since the recession. The Construction sector (-6.6%), Professional services (-2.8%), Mining and oil extraction (-14.1%) and Finance and insurance (-21.0%) sectors all lost workers.
The sector with the highest wages is the Mining and oil extraction sector at $2,472. Prior to the recession, the sector’s average weekly wage was $2,187. This is an increase of $285 per week or 13.0%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$2,472||$2,187||13.0%|
|Finance and insurance||$1,270||$1,079||17.7%|
|Transport and warehousing||$1,234||$1,083||13.9%|
|Agriculture and forestry||$934||$759||23.1%|
|Real estate and rental||$831||$695||19.6%|
|Accommodation and food services||$460||$378||21.7%|
|Arts and entertainment||$420||$324||29.6%|
Wage growth in Alaska significantly lagged the national average. Several sectors had wages grow less than 10% since the recession. Construction (+8.7%), Wholesale trade (+9.6%) and Educational services (+5.7%) all fell into this slow growth group. The sector with the highest wage growth is Manufacturing, which grew by 33.1% since 2009.
Each of the sectors in the previous section are made up of a number of detailed industries. The top industry that has experienced the most growth (as a percent) since the recession is Computer systems design and related services which has grown 35.2%. The top industry that has contracted the most is Offices of lawyers which has contracted by 16.5% in the years since the recession. The table below illustrates the 10 largest industries and their change in the number of businesses since the recession:
|Residential building construction||448||476||-5.9%|
|Offices of physicians||428||416||2.9%|
|Accounting and bookkeeping services||312||281||11.0%|
|Computer systems design and related services||311||230||35.2%|
|Commercial building construction||299||278||7.6%|
|Offices of dentists||295||292||1.0%|
|Hotels and motels, except casino hotels||290||289||0.3%|
|Offices of lawyers||288||345||-16.5%|
|All other amusement and recreation industries||266||230||15.7%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Management of companies and enterprises which has grown 129.7%. The industry that has lost the most employees is Support activities for mining which has contracted by 31.4% in the years since the recession. The table below illustrates the 10 largest industries and their change in the number of employees since the recession:
|General medical and surgical hospitals||12,121||9,567||26.7%|
|Seafood product preparation and packaging||9,445||9,105||3.7%|
|Offices of physicians||8,091||5,731||41.2%|
|Hotels and motels, except casino hotels||7,537||6,831||10.3%|
|Support activities for mining||6,398||9,321||-31.4%|
|Scheduled air transportation||5,422||4,527||19.8%|
|Supermarkets and other grocery stores||4,052||4,603||-12.0%|
|Management of companies and enterprises||2,860||1,245||129.7%|
|Other outpatient care centers||2,807||1,930||45.4%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is All other financial investment activities which has grown 906.4%. The average weekly wage in the Oil and gas pipeline construction industry has grown by 16.1% since the recession. This is the industry with the lowest change in wages a month the top industries in Alaska . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|All other financial investment activities||$8,444||$839||906.4%|
|Couriers and express delivery services||$2,386||$1,755||36.0%|
|Computer and software merchant wholesalers||$2,254||$1,414||59.4%|
|Oil and gas pipeline construction||$2,091||$2,493||-16.1%|
|Highway, street, and bridge construction||$2,034||$1,625||25.2%|
|Other heavy construction||$1,932||$1,810||6.7%|
The biggest percentage change in the number of businesses has been in businesses with 500 to 999 employees. The number of businesses with this number of employees has grown from 14 to 17, which is an increase of 21.4%.
The worst percentage change in the number of businesses has been in businesses with 1,000 or more employees. The number of businesses with this number of employees has grown from 12 to 10, which is a decrease of 16.7%.
Table: Change in the number of Businesses by Size of Business, since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||11,940||11,248||6.2%|
|More Than 1,000 Employees||10||12||-16.7%|
The biggest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees in companies this size has grown from 8,614 to 11,718, which is an increase of 36.0%.
The worst percentage change in the number of employees has been in businesses with 1,000 or more employees. The number of employees with this number of employees has grown from 17,256 to 16,472, which is a decrease of 4.5%.
Table: Change in the number of Employees by Size of Business, since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||17,741||16,846||5.3%|
|More Than 1,000 Employees||16,472||17,256||-4.5%|
The biggest percentage change in the average weekly wage has been in businesses with 500 to 999 employees. The average weekly wage in companies this size has grown from $1,372 to $1,806, which is an increase of 31.6%.
The smallest percentage change in the average weekly wage has been in businesses with 50 to 99 employees. The average weekly wage in companies this size has grown from $922 to $1,006, which is an increase of 9.1%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$819||$666||23.0%|
|More Than 1,000 Employees||$1,579||$1,229||28.5%|
This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.