From the September 2011 Alaska Economic Trends: "Alaska’s economy of the past decade was without large booms, busts, or any defining economic event — yet it was still unique. The 2000–2010 decade was the slowest period of employment growth since statehood, and probably the least dramatic. Some referred to it as the 'one percent economy' because that’s about as much as it grew each year. Despite the lackluster economic performance, it might have been one of the more balanced decades, as nearly every industry contributed to the expansion. For example:
- The fishing industry began to recover from the lows of the late 1990s and early 2000s.
- Employment in the oil industry grew significantly.
- Oil revenues and federal expenditures both more than doubled.
- A third of the state’s currently operating large mines opened, along with other major mineral exploration and development.
- The number of summer visitors climbed from 1.2 million in 2001 to 1.5 million in 2010.
- International air cargo volume increased by a third.
"One exception to the growth trend was the timber industry, which continued to shrink during most of the past decade. High, unprecedented prices for commodities such as oil, minerals, and fish spurred production for many of the above industries."
Comments