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Yakutat City and Borough, Alaska, exhibits a robust economic profile with an annual GDP of approximately 46.6 million dollars and a GDP per capita of 82,652 dollars, reflecting a significant growth rate of 5.6% over the past year and an impressive compound annual growth rate (CAGR) of 8.22% over the last 13 years. This growth is driven by a balanced contribution from goods-producing (20.2%) and service-providing sectors (55.3%), alongside a notable government contribution of 24.5%. Comparatively, Alaska's overall GDP per capita stands at 89,408 dollars, while the national average is 77,754 dollars, indicating Yakutat's competitive economic standing within the state. The region's growth contrasts sharply with Alaska's recent GDP decline of 1.4%, highlighting Yakutat's resilience and potential for continued economic development.
Yakutat City and Borough, AK, exhibits a notably high employment rate of 85% 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 97.1% employment rate for those with a bachelor's degree, indicating a strong correlation between education and employment in this area. Furthermore, the female employment rate stands at 89.9%, which is higher than the state (68.9%) and national (70%) figures, highlighting gender equity in the workforce. However, the high school graduate employment rate of 66.3% is relatively modest compared to other counties in Alaska, suggesting potential areas for improvement in job opportunities for those without higher education. Overall, Yakutat's strong employment metrics reflect a robust local economy, particularly for educated and female workers.
Yakutat City and Borough, AK, presents a unique economic profile within Alaska, with a mean household income of $76,875 and a median household income of $89,580, both lower than the state averages of $86,370 and $110,602, respectively. The income per capita stands at $45,578, which is slightly above the state average of $42,828, indicating a relatively higher individual earning potential. Notably, Yakutat has a low income inequality, as reflected by its Gini index of 0.2936, significantly lower than both the state (0.4304) and national (0.4829) levels. Additionally, only 5.6% of households earn over $200K, suggesting a more modest economic landscape compared to other Alaskan boroughs like Anchorage, where this figure is 11.7%. Overall, Yakutat's economy appears stable but less affluent than its peers in Alaska.