The State of Alaska Income Charts

This section shows the Alaska economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Alaska shows it has a Median earnings of $60,695 which is the second most median earnings of all the states in the greater Alaska region. The state with the highest median earnings per worker in the group is Washington which depicts a median earnings of $63,384 (only about 4.4% larger).

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $80,287 which is in the center range of other states in the local area. The state with the highest median household income in the group is Hawaii which shows a median income of $88,005 (9.6% larger).

The next section examines a variety of different income statistics for the Alaska metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings between $15,000 and $19,999 at 27.2% of the total. Second, it has the largest proportion of earnings between $50,000 and $74,999 at 11.1% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 41.3 which is the highest of all states in the greater Alaska region. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $28.26 which is the third most average hourly earnings of all other states in the greater Alaska region. The state with the highest average hourly earnings in the group is Washington which shows an average hourly earnings of $31.66 (12.0% larger).

Figure 7 examines the number of self employed people in the Alaska metro area based on the number of people who reported any self employment income. Alaska depicts it has a Self Employed of 13.8% which is the third most people self employed of all other states in the greater Alaska region. The state with the highest percentage of people self employed in the group is California which depicts a percentage self employed of 14.0% ( only slightly larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years in the mid range of other states in the local area at $86,218 of the total. Second, it has in the mid range of other states in the area when sorted by median income-25 to 44 years at $95,393 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $62,935 of the total and is ranked #2. The only larger state being Hawaii with $75,602.

Figure 9 breaks down the source of income and Alaska has the smallest proportion of investment and retirement income at 4.4% of the total. Second, it has the largest proportion of social security at 0.7% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 22.8% which is the third most of all other states in the metro area. The state with the highest households with retirement income in the group is Hawaii which shows a households with retirement income of 28.0% (22.9% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $107,364 of the total and is ranked #1. Second, it has one of the largest proportions of white family income at $72,836 of the total and is ranked #3. Only #2 California ($73,494), and #1 Hawaii ($86,128) are larger. Third, it has in the intermediate range of other states in the greater region in terms of black family income at $60,145 of the total. Also, it has the smallest proportion of american indian family income at $82,350 of the total. In addition, it has the smallest proportion of asian family income at $71,563 of the total. Furthermore, it has one of the largest proportions of hawaiian family income at $75,933 of the total and is ranked #2. The only larger state being Hawaii with $85,165.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Alaska shows it has the hightest cost of 193.1 for the cost of utilities classification.

The State of Alaska Labor Force Charts

The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate shows that from January 2017 to before the COVID-19 Pandemic it went from 7.8% to 7.0% in March 2020. This represents a decrease in the monthly unemployment rate of 10.3%. Since that time, the monthly unemployment rate has gone to 4.0%. This represents a decrease in the monthly unemployment rate of 42.9%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. The monthly labor force participation depicts that from January 2017 to before the disasterous Covid-19 virus Pandemic it went from 356,139 to 343,483 in November 2019. This represents a decrease in the monthly labor force participation of 3.6%. Since that time, the monthly labor force participation has gone to 354,869. This represents an increase in the monthly labor force participation of 3.3%.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Alaska depicts it has a Unemployment Rate of 4.4% which is at the top of all other states in the greater Alaska region. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of shows it has a Labor Force Participation of 67.1% which is the largest of all states in the greater Alaska region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Alaska has the largest proportion of employed at 4.4% of the total and is ranked #1. Second, it has the smallest proportion of unemployed at 32.9% of the total.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Alaska depicts full time employees approximately 3.8 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Alaska area. Alaska depicts it has a Single Earner Families of 28.4% which is the second most families with a single earner of all the states in the greater Alaska region. The state with the highest families with a single earner in the group is California which depicts a single earners rate of 31.9% (12.3% larger). The percentage of families with no one working is depicted in Figure 22. Alaska shows it has a Families with No One Working of 12.6% which is less than most other states in the greater region. The state with the highest families with no one working in the group is Oregon which shows a families with no worker of 19.2% (51.8% larger).

The State of Alaska Poverty Charts

The next section details economy analysis about poverty for residents of the Alaska community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Alaska depicts it has a Total In Poverty of 75,016 which is less than most other states in the local area. The state with the highest total people earning less than the poverty level in the group is California which shows a total people earning less than the poverty level of 4,741,175 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Alaska depicts it has a Percent of Population In Poverty of 10.4% which is the third most percent of people earning less than the poverty level of all other states in the greater Alaska region. The state with the highest percent of people earning less than the poverty level in the group is California which depicts a percent of people in poverty of 12.3% (17.4% larger).

In Figure 25 people who are in poverty are broken out by age group. Alaska has the smallest proportion of person in poverty 18 to 34 years at 19% of the total. Second, it has the smallest proportion of person in poverty 55 to 64 years at 9% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Alaska has the largest proportion of black poverty rate at 24% of the total and is ranked #1. Second, it has the smallest proportion of hawaiian poverty rate at 10% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Alaska has the largest proportion of less than highschool in poverty at 14% of the total and is ranked #1. Second, it has the smallest proportion of highschool graduate and in poverty at 7% of the total. Third, it has the smallest proportion of has some college and in poverty at 3% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Alaska has the largest proportion of people who are in poverty and employed at 7.0% of the total and is ranked #1. Second, it has the smallest proportion of people who are in poverty and unemployed at 18.6% of the total. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) the state of depicts it has a Public Assistance Percent of 13.1% which is the second most households with public assistance of all the states in the greater Alaska region. The state with the highest households with public assistance in the group is Oregon which depicts a households with public assistance of 16.0% (21.9% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of depicts it has a Gini Index of 43.1% which is less than most other states in the area.

The State of Alaska Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Alaska community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Alaska has the smallest proportion of people who drive a car or motorcycle to work at 1% of the total. Second, it has the largest proportion of people who take public transportation to work at 8% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Alaska or elsewhere.) Alaska has the smallest proportion of people who take the bus at 1% of the total. Second, it has the smallest proportion of people who take a Subway or elevated rail at 0% of the total. Third, it has the smallest proportion of people who take Light rail, streetcar or trolley at 0% of the total. Also, it has the largest proportion of people who walked at 7% of the total and is ranked #1. In addition, it has the largest proportion of people who took a taxicab, motorcycle or other at 4% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Alaska has the smallest proportion of people who leave for work between 12am to 5am at 3% of the total. Second, it has the smallest proportion of people who leave for work between 530 am to 6am at 7% of the total. Third, it has the smallest proportion of people who leave for work between 630 am to 7am at 12% of the total. Also, it has the largest proportion of people who leave for work between 7am to 730am at 16% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 8am to 830am at 6% of the total and is ranked #1. Furthermore, it has the largest proportion of people who leave for work between 10am to 11am at 2% of the total and is ranked #1. Next it has the smallest proportion of people who leave for work between 11am to 12noon at 6% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Alaska has the largest proportion of people with commute time of less than 5 minutesutes at 18% of the total and is ranked #1. Second, it has the largest proportion of people with commute time between 5 to 9 minutes at 19% of the total and is ranked #1. Third, it has the largest proportion of people with commute time between 10 to 14 minutes at 19% of the total and is ranked #1. Also, it has the smallest proportion of people with commute time between 15 to 19 minutes at 14% of the total. In addition, it has the smallest proportion of people with commute time between 20 to 24 minutes at 5% of the total. Furthermore, it has the smallest proportion of people with commute time between 25 to 29 minutes at 7% of the total. Next it has the smallest proportion of people with commute time between 30 to 34 minutes at 1% of the total. Additionally, it has the smallest proportion of people with commute time between 35 to 39 minutes at 1% of the total. And then, it has the smallest proportion of people with commute time between 40 to 44 minutes at 3% of the total. Also, it has the smallest proportion of people with commute time between 45 to 59 minutes at 3% of the total.

The average commute time is shown in Figure 37. the state of shows it has a Avg Commute Time of 19 which is less than most other states in the greater region. Figure 38 shows the difference between male versus female commuting time. Alaska depicts average commute time in minutes for men 55.8% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Alaska has the largest proportion of no vehicle available at 21% of the total and is ranked #1. Second, it has the smallest proportion of 2 vehicles available at 20% of the total. Third, it has the smallest proportion of 3 vehicles available at 8% of the total. Also, it has the smallest proportion of 4 vehicles available at 5% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of shows it has a Work in city or place where live of 72% which is at the top of all other states in the greater Alaska region.

The State of Alaska Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. the state of shows it has the hightest median earnings of $96,962 for the earnings-healthcare practitioners and tech occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of shows it has the hightest median earnings of $83,988 for the earnings-healthcare practitioners and tech occupations classification. The table in Figure 48, shows Alaska employment data in terms of job categories and salary data.

The State of Alaska Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. the state of indicates it has the hightest entrepreneurs of 53% for the self employed management, business, science, and arts businesses classification.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. the state of shows it has the hightest entrepreneurs of 17% for the self employed in construction aggregate.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of depicts it has a Self Employment Income of $38,150 which is less than most other states in the metropolitan area. The state with the highest average annual self employment income in the group is California which shows an average annual self employment income of $49,116 (28.7% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Alaska depicts total number of self-employed men 37.9% larger as the total number of self-employed women.