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Growth stymied.

Growth Stymied.

According to "Northwest Portrait," an economic review and forecast prepared by the U.S. Bank and Northwest Policy Center of the University of Washington Graduate School of Public Affairs, growth in Alaska's mining, fish processing and tourism sectors of the economy are likely to be offset by reductions in public employment in 1990.

The report, which focuses on the Northwest region as a whole and the states of Washington, Oregon, Idaho, Montana and Alaska individually, notes the Alaska economy, with total personal income of $8.6 billion in 1988, is smaller than that of Idaho ($11.2 billion) or Montana ($9.1 billion). Quantifying the dominance of the oil industry in the 49th state, the study notes it is 30 percent larger than earnings of all Alaska manufacturing industries combined.

Comments on Alaska's 1989 economic performance and prospects for the coming year conclude, "Ignoring the surge of summer activity related to the oil spill, the outlook for Alaska in 1990 is for continued cutbacks in public sector employment, but for modest expansion in the tourism, mining and fishing/processing industries. Production levels on the North Slope will continue to decline, resulting in further cutbacks in state government. A generally sluggish economy will result since the state government's employment cutbacks are not likely to be completely offset by expansion in other sectors."
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Title Annotation:Alaska, University of Washington. Graduate School of Public Affairs report
Author:Manna, Victor
Publication:Alaska Business Monthly
Date:Mar 1, 1990
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