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North Slope Borough, Alaska, exhibits a unique economic profile characterized by a substantial annual GDP of approximately 10.1 billion dollars and an exceptionally high GDP per capita of 924,492 dollars, significantly outpacing both state and national averages. However, the region faces challenges, as evidenced by a sharp GDP growth rate decline of 9.6% over the last year and a negative compound annual growth rate (CAGR) of 4.96% over the past 13 years. The economy is heavily reliant on goods production, contributing 86.1% to GDP, which is markedly higher than the state average of 25.2%. In contrast, Alaska's overall economy has contracted by 1.4% recently, indicating that North Slope Borough's struggles are part of a broader state trend, albeit with a more pronounced impact on its economy.
North Slope Borough, AK, exhibits a notably high employment rate of 82.5% for individuals aged 20-64, significantly surpassing both the state average of 69.3% and the national average of 73.8%. The region also boasts an impressive 96.7% employment rate for those with a bachelor's degree, indicating a strong correlation between education and employment opportunities. Furthermore, the high employment rate among high school graduates (84.7%) and the remarkable 97.9% employment rate for Black residents highlight the borough's unique labor market dynamics. In comparison to other Alaskan counties, North Slope Borough stands out, particularly against Fairbanks North Star Borough (63.1%) and Matanuska-Susitna Borough (65.3%), suggesting a robust local economy likely driven by the region's resource-based industries and federal employment opportunities.
North Slope Borough, AK, exhibits a mean household income of $83,472 and a median household income of $109,311, which are both above the national averages of $75,149 and $105,833, respectively. The income per capita stands at $61,841, significantly higher than the national figure of $41,261, indicating a relatively affluent population. However, the income inequality, as measured by the Gini index of 0.4430, is slightly higher than the state average of 0.4304, suggesting a more pronounced income disparity. Compared to other Alaskan counties, North Slope Borough's income levels are competitive, particularly when juxtaposed with the lower-income regions like Bethel Census Area ($64,094 mean income) and Yukon-Koyukuk Census Area ($47,826 mean income), highlighting its economic strength within the state.