LotsCap

Economy Profile

Fairbanks North Star Borough

  • Alaska State
  • October, 2024
TSAC-CFD-02090

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 6803651
AVG Real Growth (2017-2022)
-0.78 %
Unemployment Rate (May, 2024)
4 %
Labor Force Size
45881
Number of Businesses
2421
Average Annual Wage
$ 66401

Economy Structure

Population & Household section gives reader an outlook. of general population profile, structure, and outlook.

GDP

GDP (2022, Thousands)
$ 6803651
GDP Per Capita
$ 70651
GDP Growth Rate (2022)
-2 %
Average Growth Rate (2017-2022)
-0.78 %
Goods Producing Contribution (%)
14.6%
Service Providing Contribution (%)
50.3%
Goverment Contribution
35.2%
GDP Historical Growth Rate
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP by Sectors
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP Growth by Sectors
Source: Bureau of Economic Analysis | CAGDP11

Monthly Employment

Total Labor Force
45881
Labor Force Growth
0.05%
Unemployment
1823
Unemployment Rate
4%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
63.1%
Employment Rate (with Bachelor's Degree)
75.7%
Employment Rate (75+ y.o.)
13.9%
Employment Rate (Black)
56.8%
Employment Rate (Female)
68.5%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
2421
Number of Employment
36145
Annual Average Wages
$ 66401
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 96786
Service-providing (avg pay)
$ 56897
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 81655
Household Income (Median)
$ 107852
Per Capita Income
$ 42744
Per Capita Income Growth (2010-2022)
40.6 %
Gini Index
0.4242*
Poverty Rate
6.9 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov