The Year in Review - Job Growth Wanes in 1995

Alaska's economy grew for the eighth straight year in 1995, propelled by an expanding services sector and strong construction activity. (See Figure 1.) However, job growth was slower than at any time during the 1990s. Wage and salary jobs grew by 1.1%, less than half of the 2.5% pace set in 1994. Oil and timber industry woes combined with federal government downsizing and the demise of two airlines to put a damper on employment growth. Slower growth in Alaska's retail sector completed the recipe for one of the more sluggish economic performances in recent memory.