Unemployment Up (mortgages, employment, income)

[Alaskapat528]

State unemployment up even as job numbers increase: Money | adn.com

Reinforces the fact if moving to AK. obtain employment first or have mega bucks.

[Glitch]

Originally Posted by Alaskapat528

State unemployment up even as job numbers increase: Money | adn.com

Reinforces the fact if moving to AK. obtain employment first or have mega bucks.

Consider the source.

[RayinAK]

I do agree with you about the ADN

But Alaska is losing over 400 jobs from one company alone: Conoco.

I imagine that other companies in the oil industry will follow, unless the price of oil goes up and Congress allows for more oil production in Alaska. The tourism industry will also lose jobs, unless the state of the national economy changes.

[Rance]

I made it through round one of the cutbacks/layoffs. If I have work through June I'll be blessed. You guys may see me out there holding up a cardboard sign with "will work for beer" come July!

[Nephler]

Just glad I'm working now, with the way things are.
Damn, it's been a little over 6 months since I last did some real work. Feels real good to, no matter what it is. We figured about 3 months for me not to be working, but 6, that's too long.

[warptman]

I'm keeping quiet on my evaluation. It was supposed to take place in January, the longer I wait, the more back pay!

[lyoness]

Be thankful it hasn't hit up there as hard as places down here. In my neck of the woods unemployment now at over 14%. More than 1 out of every 7 people out of work, companies shut their doors so most will never be recalled to go back to work. Estimates say almost 65,000 out of work in Toledo alone, and that is only those reporting, doesn't include those who've run out of unemployment. Who would have guessed the world would fall to pieces so fast!

[Nephler]

I just heard tonight that my old place of work back in MI will be laying off 33 out of about 100 next week.

Though that sucks for those that get let go, it well give me an extra income. They called me a couple weeks ago asking if I would be interested in working remote for 1000 a month, it's really very few hours, about 20 a month. I said sure, I can do the work in my sleep. The time has now come where I may get the call from them again next week.

[lyoness]

Thats great that you can do your old job remote!

[Glitch]

Originally Posted by RayinAK

I do agree with you about the ADN

But Alaska is losing over 400 jobs from one company alone: Conoco.

I imagine that other companies in the oil industry will follow, unless the price of oil goes up and Congress allows for more oil production in Alaska. The tourism industry will also lose jobs, unless the state of the national economy changes.

Actually, ADN just reprinted the original AP story. It was the AP to whom I was referring concerning the source.

As far as the oil industry layoffs, they happen all the time, even during a booming economy. BP will hire 700 one week for a particular project, and let them all go 6 months later when the project is completed. It is "feast or famine" with the oil industry.

While unemployment in the lower-48 has been climbing rapidly, it has remained relatively flat in Alaska. I agree with you that the tourist industry will be adversely effected. Not so much by the lower-48 economy, but more so by the decline in the world economy. Only 20% of the tourists that visit Alaska come from the lower-48.

Alaska is somewhat independent of the lower-48 economy. When the lower-48 was going through the late-1970s/early-1980s recession, Alaska was booming. When the lower-48 was booming in the late-1980s, Alaska was going through a nasty recession.

There was no housing bubble in Alaska, nor did we have the same problem with sub-prime mortgages the lower-48 has. Alaska's biggest problem is not the economy, but rather our state legislature spending well beyond its means.

I am not saying Alaska is immune to the effects of the lower-48 economy, just not as adversely impacted.