Unemployment Rate Remains at 6.7 Percent in June, 2016 - P.O.W. Report

Tuesday, July 26, 2016

Unemployment Rate Remains at 6.7 Percent in June, 2016

By Mark Edwards

According to preliminary Federal Department of Labor estimates, June was actually a good month and Alaska employment was 0.4% higher than June of 2015. June of 2016 had 359,400 jobs (rounded) vs. 358,200 at June of last year. The best estimate we have at this time for 2016 would be to average the employment numbers for January to June and then compare that to the average of the first six months of 2015. January, February and June had more jobs in 2016 and March, April and May were stronger in 2015. The six month average of jobs was 335,350 in 2015 and 334,917 in 2016. This is an average of 433 few jobs this year or 0.1% less. With statistical revision coming on the preliminary data it is basically saying flat employment with no change on a 6 month average compared to the first half of last year.

This data set can be found at the State's Department of Labor website.

The Quarterly Census of Employment and Wages (QCEW) is the most accurate information on employment because it is based on actual tax returns, rather than survey estimates. However, there is a delay of several months until the information is available. There is currently no 2016 data published. We expect some adjustments to this information, likely slightly downward, when the QCEW data for the first quarter of 2016 is released. It can be found online.

The Department of Labor's Press Release on June employment can be found on their website. [Source]

Read More: Alaska Economic Trends July 2016: The Cost of Living in Alaska

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