Southeast Alaska’s economy is strong. In 2023 jobs were up by 3% and wages have been growing at faster than the rate of inflation. Tourism jobs flooded back, growing by 26%, an increase of 1,700 year-round-equivalent jobs. Tourism workers earned $105 million more than the year before.
The region’s fishermen brought in the largest catch in more than a decade, but with a catch value $66 million less than the smaller catch from the year before, as global drivers fueled low seafood prices.
The government, healthcare, retail, construction, finance, and mining sectors all added workers to their payrolls. Tribal government grew by 9%. Regional GDP was up by 31%. However, State jobs continued to decline, social services were down, along with professional & business services. Population and school enrollment declined.
In 2024, Southeast business leaders are mostly optimistic. The regional economy has finally fully recovered from the pandemic. The construction industry is responding to $334 million in infrastructure bill investments in Southeast. Inflation has dropped to 1.5%. Tourism is having another strong year as 1.675 million cruise passengers are expected to visit.
While jobs continue to grow, so do concerns about the lack of a sufficient workforce in the region.
