This State’s Unemployment Rate Is 70% Higher Than America’s

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By Douglas A. McIntyre Updated Published
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This State’s Unemployment Rate Is 70% Higher Than America’s

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Once a month, the Bureau of Labor Statistics issues the unemployment rate by state. The jobless figures for many are much different from the national average, which was 3.6% in October. In one state, the number was 72% higher.

The unemployment rate in Alaska was 6.2% last month. That contrasts with the state with the lowest unemployment, which at 2.2% was Vermont.

Much of the jobs problem in Alaska last month was due to government worker reductions arising from cuts in the state’s budget. Tourism was hit hard as well. The Alaska Native News said of the state’s October jobs numbers, “Unemployment rates more than doubled from last month in the state’s most tourism-heavy areas, putting Denali at 9.2 percent and Skagway at 6.9 percent.” Denali is next to the mountain of the same name, which used to be Mount McKinley. Its peak is the highest in North America.

One reason the state’s figure is so high is that the jobless rate in its largest city is also well above the national average. October figures have not been released by cities, but in September, the jobless rate in Anchorage was 5.5%, one of the highest in the country.

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The unemployment rate in Alaska has not changed much in a year. The October 2018 figure was 6.5%. The total number of people out of work last month was 21,496, compared to 23,069 in the same month the year before. It is also one of the states with the most children living in poverty and the least liked governors in America.

Finally, to put the Alaska figure in perspective, the next state based on unemployment is Mississippi at 5.5%.

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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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