The oil and gas industry is the largest component of Alaska’s economy. Nearly 85 percent of the state budget is supplied by oil revenues. The fortunes of Alaska’s oil industry , and therefore many sectors of the economy, are dependent upon world oil prices. Economy Oil. Tourism. Fishing.
Alaska’s present-day economy is based on oil production, fishing, federal and state (both civilian and military) expenditures, research and development, and tourism.
State Profile: Largest Employers
|#||Employer||Number of Employees|
|1||Fort Wainwright Military Base||6,100|
|2||Uni Sea Inc||5,000|
|3||Ted Stevens Anchorage Intl||4,000|
The country’s 49th and 50th states did rank among the top 10 richest states with Alaska clocking in at number 7 and Hawaii at number 3. New Hampshire, another low-population state, also cracked the top ten list.
Though it is one of the coldest and most sparsely populated areas on the planet, Alaska ranked 15th back in 2007 among all American states in terms of GDP per capita, thanks to its rich natural resources, particularly its gigantic crude oil reserves.
Alaska has some of the best hunting and fishing anywhere in the world. If hunting and fishing are two of your favorite pastimes, you’ve come to the right place. Alaska offers some of the most unique hunting and fishing opportunities in the world. There’s plenty of fishing experiences to be had in Alaska as well.
Top 100 Jobs Relatively More Common in Alaska Than Elsewhere
|Rank||Job||Local Popularity Index|
|1||Zoologists and wildlife biologists||45.6|
|2||Geological and petroleum technicians||30.5|
|3||Airline pilots , copilots, and flight engineers||29.3|
|4||Material moving workers||20.2|
In 2017, 81.1% of Alaskans were at or above the poverty rate based 125% of the federal poverty threshold, which is below the 90% goal for Healthy Alaskans 2020. Alaska Native people have lower rates of exceeding the 125% poverty threshold than do Alaskans in general over time.
Alaska still runs on oil . Alaska’s North Slope has responsibly produced more than 18 billion barrels of oil since the discovery of the Prudhoe Bay oil field. Oil production has been the engine of economic growth in Alaska . Alaska residents represent 84 percent of primary company total employment in Alaska .
Whether you share them with your loved ones or keep them all to yourself, here are 8 souvenirs you should consider including in your luggage home. Alaska Native Art. Ulu Knives. Glacial Mud. Birch Syrup. Spirits, Wine, and Beer. Bear Claw Pasta or Salad Server. Mukluks. Alaskan Jade.
In 2019, Alaska emerged from the state’s longest recession on record. Things were looking up, as jobs returned to the economy. Despite the uncertainty, Guettabi laid out a forecast that shows the state’s economy returning to 95% of what it was pre-pandemic, by the end of 2022.
$36,508 a year