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Ketchikan Gateway Borough, Alaska, has an annual GDP of approximately 1.01 billion dollars, translating to a GDP per capita of about 72,953 dollars. The region experienced a GDP growth rate of 2.1% in the last year, a positive shift compared to its 13-year compound annual growth rate (CAGR) of -1.58%, indicating a potential recovery or stabilization in its economy. In comparison to the state of Alaska, which has a GDP of 65.7 billion dollars and a negative growth rate of -1.4%, Ketchikan's performance is relatively stronger. However, it lags behind the national average GDP per capita of 77,754 dollars. The government sector plays a significant role in Ketchikan's economy, contributing 24.6% to its GDP, reflecting a reliance on public sector employment, similar to other Alaskan counties.
Ketchikan Gateway Borough, AK, exhibits a robust employment landscape, with a 73.9% employment rate for individuals aged 20-64, slightly above the state average of 69.3% and comparable to the national rate of 73.8%. Notably, the borough boasts an impressive 86.9% employment rate for those with a bachelor's degree, surpassing both the state (80%) and national (84.3%) figures. The high employment rate among high school graduates at 68.4% also reflects positively against Alaska's average of 64.9%. However, the borough's employment rate for Black residents stands out at 89%, significantly higher than the state average of 59.6% and the national average of 57.2%. Overall, Ketchikan Gateway Borough demonstrates strong educational outcomes and employment opportunities, positioning it favorably within Alaska's economic landscape.
Ketchikan Gateway Borough, AK, exhibits a mean household income of $82,763 and a median household income of $108,405, which are both below the state averages of $86,370 and $110,602, respectively. The income per capita stands at $44,368, slightly lower than Alaska's average of $42,828, indicating a relatively stable economic environment. Notably, 9.8% of households earn over $200,000, aligning closely with the state average of 11.5%, while 9.8% fall below $20,000, which is better than Alaska's 9.5%. Compared to other counties, Ketchikan's income distribution reflects a moderate level of income inequality, as indicated by its Gini index of 0.4376, which is higher than the state average but lower than many other counties, suggesting a more equitable income distribution relative to its peers.