Institute of Social and Economic Research, University of Alaska Anchorage
Abstract
The total value of construction spending “on the street” in Alaska in 2017 will be 6.5billion,down102.4 billion, from 2.9billionlastyear.Allotherconstructionspendingwillbe4.0 billion, a decline of 7% from 4.3billionlastyear.Privatespending,excludingoilandgas,willbeabout1.6 billion, up 2% from last year—while public spending will decline 12% to $2.5 billion.
Wage and salary employment in the construction industry, which dropped by 8.5% in 2016 to 16.2 thousand, will drop another 7.4% in 2017 to 15 thousand, the lowest level in more than a decade.n 2016 the Alaska economy slipped into a recession that is expected to continue at least through 2017. Total wage and salary employment fell in 2016 by 6.8 thousand, about 2%. This year it is anticipated the
decline will be 7.5 thousand, or 2.3%, which will return the economy to the 2010 level.5. Weakness in the economy is also reflected in a net outmigration of population over the last four years.Construction Industry Progress Fund
Associated General Contractors of Alask