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The Southeast Fairbanks Census Area in Alaska has an annual GDP of approximately $848 million, with a notable GDP per capita of $123,076, indicating a relatively high standard of living compared to other regions. However, the area experienced a significant GDP growth decline of 5% in the last year, contrasting with the national growth rate of 1.9% and Alaska's decline of 1.4%. The region's economy is heavily reliant on goods production, contributing 60.8% to its GDP, which is substantially higher than the national average of 17.4% and Alaska's 25.2%. This focus on goods production may explain the volatility in growth rates, as it can be more susceptible to fluctuations in demand and resource availability. Overall, while Southeast Fairbanks boasts a high per capita income, its recent economic performance raises concerns compared to both state and national trends.
The Southeast Fairbanks Census Area, AK, exhibits an employment rate of 65% for individuals aged 20-64, which is notably lower than the state average of 69.3% and significantly below the national average of 73.8%. The region's employment rate for those with a Bachelor's degree stands at 66%, also trailing behind Alaska's 80% and the national figure of 84.3%. High school graduates in Southeast Fairbanks fare slightly better, with a 69.6% employment rate, yet this is still below the state average of 64.9%. The area shows a particularly low employment rate of 2.5% for those aged 75 and older, indicating potential challenges for older workers. Comparatively, Southeast Fairbanks ranks lower than many other Alaskan counties, such as Anchorage and Juneau, which have higher employment rates across all educational levels, suggesting a need for targeted economic development strategies to enhance job opportunities in the region.
The Southeast Fairbanks Census Area in Alaska exhibits a mean household income of $75,378 and a median household income of $85,484, which are notably lower than both the state averages of $86,370 and $110,602, respectively. The region's income per capita stands at $33,809, reflecting a significant disparity compared to the national average of $41,261. However, it has a relatively high percentage of households earning over $200,000 at 14.8%, which is above the state average of 11.5%. This suggests a unique income distribution where a smaller number of high earners coexist with a considerable portion of the population earning less than $20,000 (12.6%). Overall, while Southeast Fairbanks has pockets of wealth, it faces challenges in raising overall income levels compared to both state and national benchmarks.