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Jobs are up From 2020 but Still Lag Behind Pre-Pandemic Levels

You are currently viewing Jobs are up From 2020 but Still Lag Behind Pre-Pandemic Levels
  • Post category:News

Job numbers in the northernmost and westernmost state in the U.S. were up last month in comparison to October 2020 but still below pre-pandemic levels for most industries. This was revealing in a state labor department reporting Friday. In fact, the state had about 8,500 more jobs in October thus compared to a year earlier but about 15,800 fewer than in October 2019. This was according to the report.

Jobs and COVID-19 Pandemic Hit

An economist with the department, Neal Fried, said this recovery will take a while. Moreover, he has said Alaska has not fully recovered from the effects of a drawn-out recession. This is when the COVID-19 pandemic did hit.

Two Recessions

“In the last 10 years, the pandemic was just one of two recessions we’ve had. Moreover, the last recession was really bad, too. In fact, we never recovered from that one,” he said in an interview this past Friday. Alaska had a “tiny little recovery in 2019. Unfortunately, then, bam, we got hittingagain.”

Between 2015 and 2018, the state was in a recession. It was all driven by a fall in oil prices, economists have said. Then, Alaska has begun to see its first big job losses due to the pandemic in April 2020. The department has said.

Industries – Leisure, Hospitality, Trade, Transportation and Utility Sectors

Last Friday, the important report was releasing and then showing the gains for most industries compared to October 2020. The industries will include leisure, hospitality and trade, transportation, and utility sectors seeing the largest jumps. There are about 2,900 more jobs each which were last month now comparing to a year earlier.

However, there are about 5,500 fewer jobs in leisure and hospitality than in October 2019. According to the report. Also in the report, there is trade, transportation, and utilities 2,200 fewer.

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