Investor Presentaiton
There is no single or best way to measure or describe Alaska's
economy. Two frequently-used measures are:
.
Employment: How many people are employed. Employment in Alaska is
highly seasonal (many more people are employed in the summer than in the
winter), so employment numbers are typically reported as annual average
employment. Note that the state's official employment data don't count
several important kinds of work, including people who are self-employed,
commercial fishermen (who are technically paid a share of their boat's catch
and are considered self-employed), and people engaged in unpaid work at
home (cooking, cleaning, child care, gardening, mowing the lawn) or in
subsistence hunting and fishing.
Gross State Product (GSP): The estimated value of all goods and services
produced in Alaska by the market sector of the economy.* The market sector
of the economy is the part in which people work for pay. So Gross State
Product (GSP) includes the value of what people produce in their paid work,
but it excludes the value of unpaid work and subsistence hunting and fishing.
*Technically, Gross State Product (GSP) is calculated as the total value of goods and services
produced in Alaska, minus the cost of inputs purchased from outside Alaska.View entire presentation