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Haines Borough, Alaska, has an annual GDP of approximately 121 million dollars, with a GDP per capita of about 58,243 dollars. Notably, the region experienced a robust GDP growth rate of 8.6% in the last year, contrasting sharply with Alaska's overall decline of 1.4% and the national growth of 1.9%. Despite this positive trend, Haines Borough's GDP growth rate over the past 13 years has been negative at -0.94%, indicating long-term economic challenges. The goods-producing sector contributes 17.2% to the GDP, while the service sector dominates at 67.1%. Comparatively, Haines Borough's GDP per capita is lower than the state average of 89,408 dollars and significantly below the national average of 77,754 dollars, highlighting potential areas for economic development and diversification.
Haines Borough, AK, exhibits a relatively strong employment rate of 72.3% for individuals aged 20-64, slightly above the state average of 69.3% but below the national average of 73.8%. Notably, the employment rate for those with a Bachelor's degree is significantly lower at 65.4%, compared to Alaska's 80% and the national figure of 84.3%. The high school graduation employment rate stands at 78.6%, which is favorable compared to the state (64.9%) and national (67.9%) averages. Additionally, the employment rate for seniors (75+) is 11.1%, indicating a modest level of engagement among older residents. Overall, while Haines Borough shows strengths in general employment, it faces challenges in higher education employment compared to both state and national benchmarks, suggesting a potential area for economic development and workforce enhancement.
Haines Borough, AK, exhibits a mean household income of $68,276 and a median household income of $76,099, both significantly lower than the state averages of $86,370 and $110,602, respectively. The income per capita stands at $33,585, which is also below the state average of $42,828. Notably, 18.7% of households earn less than $20,000, indicating a higher prevalence of low-income households compared to the state average of 9.5%. In contrast, Haines Borough's percentage of households earning over $200,000 is 11.3%, slightly below the state average of 11.5%. This data suggests that Haines Borough faces economic challenges relative to other Alaskan counties, particularly in terms of income distribution and the prevalence of low-income households.