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Monday, June 14, 2010
Fried Over Easy
Ben Stein has competition nipping at his coattails. Neal Fried, head economist for the State of Alaska, Department of Labor, Research and Analysis Section, presented as entertaining a commentary that went over as easily among listeners about Alaska's, Washington's and the national economy as any other economist/comedian.
2009 is the first time Alaska's economy has shrunk in 21 years
There have been 21 consecutive years of uninterrupted growth in Alaska
Even then, job losses were -0.5% in 2009, compared with -4.6% for WA and 6.1% for US
Easy to understand since AK's economy is so different:
1/3 oil industry
1/3 everything else
Growth rate of 1.3% for 2000-2009
2009 first time ever Alaska's unemployment rate was below US average unemployment rate
The Gulf of Mexico oil spill is of vital interest to AK
BP is state's biggest oil producer
Already impacting drilling permits offshore
May increase interest in gas line proposals
Presented by the Alaska Committee of the Tacoma-Pierce County Chamber, this event was another in a series of continuing initiatives to share more about the economic partnership tieing Alaska and Washington States.