About 1,900 New Jobs for Anchorage.As the year comes to an end, it's a good time to review hat has happened in the Anchorage economy during 2000, review some significant events that may affect employment in the future and update readers on some projects that have been in the headlines during the year. The forecast presented in January predicted 2,200 new employees for the year 2000. The Anchorage Economic Development Corp. updated this forecast recently to estimate that approximately 1,920 new jobs were created in the year 2000. This revision was based on a review of actual employment numbers for the first half of 2000 and significant events within the sectors that are influencing employment.
Mining/Oil & Gas
AEDC's January forecast included a loss of 280 jobs in the mining/oil & gas sector. At that time, BP Amoco was attempting to purchase Arco Alaska Inc. Arco's assets were ultimately split between BP Amoco and Phillips Petroleum Co. and, contrary to AEDC's initial forecasts, the sale was completed with no immediate losses in jobs. Phillips Alaska Inc. is bringing the Alpine field online, and has plans to boost its production to 400,000 barrels a day. BP Amoco recently announced that it expects the Northstar field to begin production in late 2001.
This sector has been steadily losing jobs over the past 10 years. AEDC's updated outlook for 2000 revised the estimated job loss from 280 to 50 jobs. This revision was due to the higher-than-expected number of jobs created in the first half of 2000. For 2001, the declining employment trend in this sector should continue as realignment re·a·lign
tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns
1. To put back into proper order or alignment.
2. To make new groupings of or working arrangements between. and consolidation occurs in the oil patch oil patch
1. The petroleum and natural gas industry.
2. An oil-producing region. . However, planned increases in production, higher oil prices and expanded drilling operations could offset or even reverse the long-term trend. Popular opinion among the major sources say that oil prices will stay at or above $30 a barrel through at least the first quarter of 2001, but that prices could fall into the mid- to low-$20 range by the end of 2001. President Clinton's decision to tap the Strategic Petroleum Reserve
The Strategic Petroleum Reserve in September had some immediate effect on oil prices, but the long-term price effects remain to be seen.
The January forecast predicted 90 new jobs in this sector for 2000. However Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States
Bureau of the Census employment required more than 400 workers, causing a temporary increase in this sector. Now that the census workers have been let go, employment is coming back to more normal levels.
The Anchorage School District The Anchorage School District (ASD) manages all public schools within the Municipality of Anchorage in the U.S. state of Alaska.
It is the 87th largest school district in the United States, serving approximately 50,000 students at 93 schools. cut more than 120 jobs last spring, but because of the retirement of other teachers, all but seven received notice before school started that their layoffs had been rescinded. In addition, higher than expected enrollment for the fall semester added 10 teachers and 26 teacher assistants to the payrolls. The 10-year trend in this sector has been a steady increase in employment.
Finance, Insurance and Real Estate
AEDC's January forecast predicted no change in jobs for this sector. However, in the first six months of 2000, the average number of people employed in this sector has been fewer than anticipated. Increasing mortgage interest rates caused residential real estate sales to begin declining in 1999, a trend that could continue into 2001 should the Federal Reserve continue to hike interest rates in an effort to slow the economy. Look for the dollar/euro exchange rate and the effect higher oil prices have had on the U.S. economy for clues as to which way the Fed might move after the first of the year.
National Bank of Alaska National Bank of Alaska (originally known as Bank of Alaska) was Alaska's largest financial institution for the latter part of the 20th century. In 2000, it was subsumed into Wells Fargo.
Bank of Alaska was founded in 1916 by Andrew Stevenson in Skagway, Alaska. , Alaska's largest bank, has been sold to Wells Fargo Wells Fargo
armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147]
See : Protectiveness
company that handled express service to western states; often robbed. [Am. Hist. . It is speculated that nearly 180 positions at NBA NBA
1. National Basketball Association
2. National Boxing Association
NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= will be eliminated when the acquisition is completed, most of them after the first of the year. AEDC's mid-year revision changed the estimate for 2000 from no change in jobs to a decrease of approximately 50 jobs, with that trend continuing into 2001 if interest rates continue higher.
AEDC's January forecast estimated an increase of 150 jobs in this sector. This estimate was based on expected hiring by Alaska Seafood International. In May 2000, ASI ASI,
n See Anxiety Sensitivity Index. employed 125 people, with plans to expand shifts and be in full production in late 2001, finally employing about 450 workers. ASI's cash flow problems in late summer were well documented, and this hindered employment in the sector. ASI currently employs about 60 and expects to crank up crank 1
1. A device for transmitting rotary motion, consisting of a handle or arm attached at right angles to a shaft.
2. A clever turn of speech; a verbal conceit: quips and cranks. production as new funding sources are found, eventually employing about 450 workers in 2002 or beyond.
Due to ASI's slower-than-projected growth and the 10-year trend of decreasing employment in this sector, AEDC AEDC Arnold Engineering Development Center (Tullahoma)
AEDC American Economic Development Council
AEDC Anchorage Economic Development Corporation
AEDC Antarctic Environmental Data Centre (UK) revised the job estimate for 2000 from 150 to 50 new jobs. Numbers in 2001 will depend a great deal on ASI activities, although several manufacturing concerns are considering locating in Anchorage.
The number employed in this sector has been steadily increasing over the past 10 years. The January forecast predicted approximately 220 new construction jobs in 2000. Alaska has had abundant federal appropriations for construction projects over the past several years, which should continue with the federal budget surplus. In 2001, Anchorage should see a continuation of the increasing employment trend.
Transportation, Communication and Utilities
The January forecast estimated 480 new positions in the Transportation, Communications and Utilities sector. In the previous 10 years, this sector experienced the largest annual percentage growth in the number employed within the Anchorage work force.
The new Alaska CargoPort at Anchorage International Airport will facilitate the efficient transfer of cargo. Although United Airlines has reduced its cargo presence in Anchorage, Northwest Airlines has added two freighters to its cargo fleet, has applied for additional routes into Asia and is exploring direct service into Europe. Anchorage still makes sense as an intermediate stop--allowing carriers to haul heavier loads out of the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. , and affording them a place to sort cargo headed to the U.S. and Europe. For 2001, AEDC projects a continued increasing trend in employment.
AEDC's January forecast predicted 520 new jobs in this sector in 2000. A number of new participants entered the Anchorage retail market in 1999, a trend that was expected to slow during 2000. This sector has seen continued growth in jobs for the past several years. Gottschalks has completed its acquisition of Lamonts, bringing a new chain to Anchorage. The company has also indicated that it will aggressively pursue growth in the Alaska market AEDC revised the 2000 outlook because of lower-than-predicted job creation in the first half of 2000. Look for a continuation of modest growth into 2001.
The January forecast predicted 1,030 new jobs in the service sector. Health services health services Managed care The benefits covered under a health contract have been the growth leader in this sector, with Providence Hospital Providence Hospital is a 247 bed acute-care facility located east of downtown Columbia, South Carolina. The hospital was founded in 1938 by the Sisters of Charity of Saint Augustine as a ministry to the Catholic community, in both body in spirit. and Alaska Regional expanding their facilities in 2000.
The January forecast was revised to include an additional 800 jobs in this sector in 2000 and continued steady growth in jobs is expected into 2001.
There have been a number of significant events in Anchorage in 2000, and AEDC expects 2001 to be no less exciting. The gas pipeline, strategic missile defense Missile defence is an air defence system, weapon program, or technology involved in the detection, tracking, interception and destruction of attacking missiles. Originally conceived as a defence against nuclear-armed ICBMs, its application has broadened to include shorter-ranged and the possibility of drilling in the Arctic National Wildlife Refuge The Arctic National Wildlife Refuge (ANWR) covers 19,049,236 acres (79,318 km²) in northeastern Alaska, in the North Slope region. It was originally protected in 1960 by order of Fred A. Seaton, the Secretary of the Interior under U.S. President Dwight D. Eisenhower. all could be decided in the coming months, and all of these have the potential to create significant amounts of growth-both in Anchorage and in the entire state. A more detailed forecast for 2001 will be unveiled at the AEDC Forecast Luncheon on January 10 in Anchorage.
Jeff Pokorny is the Anchorage Economic Development Corp.'s research director. Jeff succeeds Jon McCracken in that post.
Jeff and his wife, Michelle, moved to Anchorage from Biloxi, Miss., where he worked for the Department of Marine Resources as a senior economic analyst.
Previously, Jeff was an Air Force electronic warfare officer Electronic Warfare Officer (EWO) is a term used to describe any member of the Armed Forces trained in the use of the electromagnetic spectrum to deny its effective use by an adversary. whose assignments included a two-year tour at Eielson Air Force Base Eielson Air Force Base (IATA: EIL, ICAO: PAEI, FAA LID: EIL) is located in Fairbanks North Star Borough, Alaska. It is part of the 'Fairbanks, Alaska Metropolitan Statistical Area'. As of the 2000 census, the population of the base is 5,400. . He spent four more years on and off Shemya, flying reconnaissance missions in support of the Strategic Arms Limitation Treaty and the Strategic Arms Reduction Treaty.
Jeff holds a master's degree master's degree
An academic degree conferred by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree.
Noun 1. in managerial economics managerial economics
Application of economic principles to decision making in business firms or other management units. The basic concepts are drawn from microeconomic theory, but new tools of analysis have been added. from the University of Oklahoma University of Oklahoma, abbreviated OU, is a coeducational public research university located in the U.S. state of Oklahoma. Founded in 1890, it existed in Oklahoma Territory near Indian Territory 17 years before the two became the state of Oklahoma. and a bachelor's degree from the University of Nebraska.
Total Employment in Anchorage Continues to Grow 1990 111,500 1991 112,700 1992 113,800 1993 117,600 1994 120,200 1995 120,600 1996 121,100 1997 124,000 1998 128,600 1999 131,300 2000 133,220