(SitNews) - It is a good time to live and work in Southeast Alaska, and not just because of 2013‘s epic summer weather. The economy of Southeast Alaska is in an expansion phase, and has been since 2008 according to a new economic publication just released.

Southeast Conference’s annual regional economic publication - Southeast Alaska by the Numbers 2013 - was released on September 17th at Southeast Conference’s Sitka conference. The publication was developed by consultant Sheinberg Associates on behalf of Southeast Conference.

This year the report provides a two-year snapshot of regional economic and socioeconomic trends. It shows that the economy of Southeast Alaska is in an expansion phase, and has been since 2008. Between 2010 and 2012 that economic growth intensified—nearly every economic indicator for the region is up, and continuing to rise. The 10-page overview provides analysis on demographics, employment, and earnings; the visitor, seafood, mining, timber, and health care industries; along with public sector developments.

Some highlights:

In 2012 the region reached a new record population of 74,423 - easing past the former record set in 1997. During 2010-2012, Southeast Alaska was the fastest growing region of the state, growing by 2,800 people. In the last two years, the regional labor force increased by 1,800 jobs. Leading the way were employment gains in mining, professional & business services, the visitor industry, and construction. Due to these increases, the region has more workers than ever before - 46,000 - along with the highest total payroll. The unemployment rate is down. The number of cruise passengers is up—and expected growth will set a cruise visitor record over the next few years. The 2013 commercial fishing season is shaping up to be one of the best ever, already surpassing the 1999 record in terms of total salmon harvested. Falling economic indicators were mostly confined to employment in the retail sector and local government losses in Juneau (although total wages remained up). A handful of job losses were also reported in the timber and information sectors.

Shelly Wright, Executive Director of Southeast Conference, is happy to see that the region has finally turned a corner. “The story that Southeast by the Numbers tells is a great one this year. It shows that finally, after a great deal of effort from so many organizations, many economic gains have been realized. No one did this alone. We learned through difficult times that people and community leaders of Southeast Alaska must think locally and plan regionally. These positive economic trends are materializing because the region worked together to overcome obstacles.” However, she cautions “each component of our economy needs continued support if we are going to maintain these upward trends. Especially since declining metal prices coupled with federal and state government cutbacks could put a damper on recent growth.”

On the Web:

Southeast Alaska By the Numbers 2013 (12 pages - pdf)

Source of News: 

Southeast Conference
www.seconference.org

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