Economic Indicators and Information

Below are listed some of the economic indicators that help describe the economic vitality and potential of the Skagway economy. More indicators will be added over time. These indicators are derived from various state and federal agencies, and SDC cannot vouch for their accuracy.

Wages

The minimum wage in Alaska is $8.75 per hour.

For a comprehensive look at occupational wages for Southeast Alaska, click here. These are compiled by the Dept. of Labor & Workforce Development and reflect the wages as of May 2014.

In general, Alaska’s Cost of Living is considerably higher  when compared to the U.S. averages.

Taxes

The City of Skagway has adopted the following tax schedule:

Sales Tax: 5.0%
Bed Tax: 8.0%

Property Tax (2014-15):
Service Area I: 7.00 mills
Service Area II: 5.78 mills
Service Area III: 4.62 mills
Service Area IV: 3.01 mills
Service Area V: 1.26 mills

A $100,000 home will cost between $126 – $700 in Property Taxes depending on the Service Area. There are NO State sales or income taxes. There are NO local personal property or income taxes.

Unemployment

The unemployment rates for Skagway vary greatly throughout the year, due to the seasonality of the local economy. Although only anecdotal, it would be difficult to imagine any unemployment in Skagway during May-September. At this time many people have more than one job to ensure they have plenty of savings to get them through the leaner winter months. Many people would prefer to be working in the winter given the opportunity. Skagwegians are not scared of work and usually work long hours, 6 to 7 days a week in the summer.

The unemployment rates for January and July (below) are indicative of the seasonal nature of the Skagway economy and that of Southeast Alaska as a whole.

AREA
January
2015 
March
2015
May
2015 
July
2015
September
2014
November
2014 
Skagway, AK
21.7%
21.4%
6.0%
4.5%
4.0%
19.2%
Alaska
7.1%
7.5%
6.6%
5.9%
6.2%
6.4%
USA
6.1%
5.6%
5.3%
5.6%
5.7%
5.5%

Source: Alaska Department. of Labor & Workforce Development; U.S. Bureau of Labor and Statistics.

Income and Poverty Levels

Per Capita Income
$36,470
Median Household Income
$71,583
Persons in Poverty 47
Percent Below Poverty Level
4.8%

Source: US Census 2012

CPI for Anchorage and U.S.

Annual Average Consumer Price Index
All Items – All Urban Consumers

US
            Anchorage
Year
Average
% Change
from Previous
Year
Average
% Change
from Previous
Year
2014
236.7
1.6
215.8
1.6
2013
232.9
1.5
212.4
3.1
2012
229.6
2.1
205.9
2.2
2011
224.9
3.2
201.4
3.2
2010
218.1
1.6
195.1
1.8
2009
214.5
-0.4
191.7
1.2
2008
215.3
3.8
189.5
4.6
2007
207.3
2.8
181.2
2.8
2006
201.6
3.2
177.3
3.2

Source: U.S. Dept. of Labor, Bureau of Labor Statistics (BLS).
Base: 1982-84=100 Last Update: 1/16/13

 

(Page Last updated September 21, 2015)