Inflation eased this year and wages are now climbing faster than prices. Americans are still spending, even if they have to borrow money to do so.
"recession"
LISTEN: Looking back on a year of historic job loss in Alaska
While parts of the state fared better than others, Neal Fried with the Alaska Department of Labor says no region escaped the financial hardship of the pandemic.
Alaska had just emerged from recession when the pandemic hit. Economist sees a ‘slow grind’ to get back to pre-COVID levels.
Recovery forecasts are constrained by big unknowns, such as levels of federal aid and the course of the pandemic.
Alaska’s economy is headed for an ‘income cliff’ at end of July, when pandemic unemployment checks stop
Collectively, Alaskans received $130 million in unemployment benefits in April. That’s grease in the gears of the local economy.
New report compares Alaska’s recession to other energy-dependent states
While Alaska’s economy is not out of recession yet, there are some positive signs leading economists to believe it may be nearing the end.
Petersburg, Southeast Alaska population drops
State figures released on Wednesday show the state’s population is 737,080. That’s down 2,629 from 2016 and is the first decrease since 1988.
Lawmakers debate impact of government cuts on Alaska’s economy
This week two state lawmakers voiced very different opinions on government spending. Their comments illustrate the depth of the divide over Alaska’s fiscal and economic crisis.
Economist urges lawmakers to address deficit uncertainty
Gunnar Knapp, director of the University of Alaska Institute of Social and Economic Research, told the Senate Finance Committee that uncertainty over the budget is a concern for the economy.
Economists: Statewide recession inevitable, but don’t panic
A statewide recession will inevitably happen this year, say two economics experts from Anchorage. But there are reasons not to panic.
Some Americans gave more in the recession; the rich did not
During the recession, middle-class and poor Americans gave more of their incomes to charity organizations than did the wealthy, according to a new study
During the recession, middle-class and poor Americans gave more of their incomes to charity organizations than did the wealthy, according to a new study.