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Growth forecast.

Growth Forecast. Overall Alaska's wage and salary employment is forecast to grow 2.9 percent annually through 1992, according to the May 1991 Alaska Economic Trends report published by the Alaska Department of Labor. Expected to lead employment growth are the construction and mining industries, whose increases will be largely related to oil and gas industry activity in Alaska, and the trade and services industries. The report's projections are based on North Slope crude oil prices ranging from $14 to $17 per barrel.

Tempering the growth rate are anticipated declines in two sectors. Federal and state government employment may experience very slight decreases, because of the 1991 elimination of federal census-taker jobs and Gov. Walter Hickel's goal of reducing state expenditures. Also, the wood products industry may see a significant -- 10 percent -- drop in employment because of a weak market and decreased timber availability.

Geographically, employment increases through 1992 are forecast to be strongest in the Anchorage area, where about half of the job growth will occur. The outlook for Fairbanks and Southeast Alaska also is for employment increases, but at a slower rate than for either Anchorage or the state.
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Title Annotation:Employment
Publication:Alaska Business Monthly
Date:Jul 1, 1991
Words:191
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