LotsCap

Economy Profile

Northwest Arctic Borough

  • Alaska State
  • October, 2024
TSAC-CFD-02188

Table of Content

Snapshot

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GDP (2022, Thousands)
$ 736,679
AVG Real Growth (2017-2022)
-2.18 %
Unemployment Rate (May, 2024)
10.8 %
Labor Force Size
2,817
Number of Businesses
156
Average Annual Wage
$ 84,862

Economy Structure

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

GDP

GDP (2022, Thousands)
$ 736,679
GDP Per Capita
$ 95,897
GDP Growth Rate (2022)
-1.2 %
Average Growth Rate (2017-2022)
-2.18 %
Goods Producing Contribution (%)
61.1%
Service Providing Contribution (%)
25.2%
Goverment Contribution
13.7%
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
2,817
Labor Force Growth
4.53%
Unemployment
303
Unemployment Rate
10.8%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
60.3%
Employment Rate (with Bachelor's Degree)
94.7%
Employment Rate (75+ y.o.)
10%
Employment Rate (Black)
84.9%
Employment Rate (Female)
62%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
156
Number of Employment
2,821
Annual Average Wages
$ 84,862
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 0
Service-providing (avg pay)
$ 0
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 77,647
Household Income (Median)
$ 96,030
Per Capita Income
$ 32,133
Per Capita Income Growth (2010-2022)
51 %
Gini Index
0.4208*
Poverty Rate
18.5 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov