The Year in Review- Job Growth Continued in 1996 Despite Setbacks

Despite setbacks, Alaska's economy grew for the ninth straight year in 1996, propelled by an expanding services sector, another solid visitor season, selected retall trade growth and a budding hard rock mining industry. However, job growth was slower than at any other time during the 1990s. Fishing and timber industry woes combined with federal government downsizing, a slower construction season, and continued consolidation in Alaska's oil industry to further slow employment growth. Nevertheless, wage and salary jobs grew 0.6O10, slightly more than half of the 1 .OOlo pace set in 1995. No growth in Alaska's financial industry rounded out the factors leading to the slow employment growth.