"Pay no attention to the man behind the curtain" is one of my favorite quotes from the Wizard of Oz. As you all recall, that was during the scene when the "Wizard" didn't want Dorothy and the rest of her gang to know that the "Wizard" really wasn't who they thought he was.
The same, it seems, describes how the economic recovery is progressing. To be certain, there is some encouraging signs in the United State's economic recovery, but it is far from complete or as much as "the man behind the curtain" would like us to believe.
After having the distinct privilege of attending a meeting this morning where Alaska Department of Labor Economist Neal Fried spoke. It only reaffirmed my opinion of Alaska's economic climate and what the future holds here. Since the economic collapse in 2008 there are only 3 states that have had an increase in nonfarm payroll employment. They are Alaska, Texas and North Dakota.
Neal also addressed growth in the state, and once again, only reaffirmed that why the Mat-Su Valley is the place to be. The amount of data that was shared this morning was nothing short of extraordinary. While the "man behind the curtain" continues to tell us how well the national economy is recovering, there isn't sufficient data to support that claim. Neal's data is spot on and tells a much more accurate story.
Each month, the Alaska Department of Labor publishes a magazine called Alaska Economic Trends. The following link will take you to the January issue that covers the 2012 Employment Forecast. http://labor.alaska.gov/trends/jan12.pdf The complete catalog of the reports can be found on the Alaska Department of Labor's website here. http://labor.alaska.gov/trends/
There are a wide variety of topics that are covered in these and served as an invaluable tool when we ourselves were contemplating moving here. We all hear about the $8 gallon of milk in Alaska etc. etc. and this was a topic that was covered in the May 2011 issue that addressed the cost of living in Alaska. http://labor.alaska.gov/trends/may11.pdf
Many of you are going to be reading this from "outside", (aka "lower 48ers") and are living through struggling economies where you are at and are contemplating relocation. I encourage you to do your research, and determine for yourself where the best place for you should be. North Dakota is experiencing a tremendous period of growth at the moment, but having good friends that have went to work out there, they love the paychecks, but can't wait to leave at the end of their stints. That works for some, but not for all.
Attending Neal's report this morning was good for my soul...not only was it so positive compared to the national numbers, but the meeting was held at the Elk's Lodge in Palmer/Wasilla. The lodge sits on the north shore of Finger Lake and featured views the likes of which you would assume were paintings on the wall where there should be windows. Clearly not the kind of place that you can't wait leave at the end of your stint.
For most, Alaska is a place that you never want to leave... At first, most didn't want to leave because of the extreme beauty, but anymore it is increasingly due to the economic health of the state.
Enjoy the Aurora tonight...the forecast is for a really big show!
Greg
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