State unemployment rate hits five-year high

A pair of crew members work on the drilling deck of Parker Rig 272 at Prudhoe Bay in May. The oil industry has lost 25 percent of its jobs since hitting a peak in 2015, with about 3,600 jobs lost over the past two years. (Photo/Michael Dinneen/For the Journal)

Alaska seasonally adjusted unemployment rate hit 7 percent in July according to the state Labor Department.

It’s the highest the unemployment rate the state has seen in nearly five years since it was at 7.1 percent in October 2012.

The rate was up 0.2 percentage points from June, up 0.5 for the year and up 0.3 from July of last year.

By comparison, the national adjusted unemployment rate was 4.3 percent in July.

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