Alaskans cashed in from 2010 to 2020 as yearly wages rose 11% from 2010 to 2020 when adjusted for inflation, according to the Alaska Department of Labor and Workforce Development.
11% from 2010 to 2020 when adjusted for inflation, according to the Alaska Department of Labor and Workforce Development.
The Aleutians had the biggest spike in average wages from 2010 to 2020, as the Aleutians East Borough saw an uptick of 48%, while the Aleutians West Census Area rose 36% during that same time. The lowest change in wages came from the Yukon-Koyukuk Census area rising $854 or 2%. “We’ve seen that in construction before, where wages making real gains over time has been a lot slower for that particular industry than for a lot of other industries,” state economist Neal Fried said. “Seafood processing, of course, we saw a 35% increase. Now part of that is probably just because there’s so much volatility in that industry. The employment levels change a lot year to year. The other thing about that is also it’s affected by changes in minimum wage.
“... We know what the inflation rate for 2021 was, it was very close to 5%. Will wages increase 5%? Possibly not,” Fried said. ”... It looks like at least for the next couple of years, I mean inflation could take a bite out of any wage gains. It’s still too early to tell.”