Economic report says Juneau’s future looks bright — or ‘at least really busy’

Annual JEDC study mostly citing income, housing and other year-end data from 2024 also notes uncertainty is a prevailing concern this year

Downtown Juneau on Tuesday, Nov. 25, 2025. (Mark Sabbatini / Juneau Independent)

By Mark Sabbatini

Juneau Independent

A just-released annual economic report for Juneau has something of a hitch — it mostly compares data from 2024 to previous years. And the study’s authors say a lot has changed in 2025.

"Uncertainty is an often-heard term when talking about the economy in 2025," the introduction of the 2025 Juneau and Southeast Alaska Economic Indicators and Outlook report by the Juneau Economic Development Council states.

The introduction, written in October, also notes "as we release this report, the federal government shutdown continues, and Juneau voters have supported local tax relief measures that will provide savings for residents while also reducing revenues available for local government programs and services."

The record-length federal government shutdown ended after 43 days on Nov. 13, but other uncertainties, ranging from tariffs to mass agency shakeups of agencies, are affecting the costs and logistics that businesses face. Yet despite the uncertainties, some of this year’s key local economic landmarks — including the cruise ship season and Black Friday holiday weekend — fared better than many business owners expected.

The summary in the JEDC report declares Juneau’s future appears bright — or "at least really busy."

"In the next few years, we expect to see the homeporting of the USCG Icebreaker Storis, the installation of a new cruise ship dock downtown, and another one or two on Goldbelt property on northwest Douglas Island—these projects alone represent nearly a billion dollars in new construction activity," the JEDC summary by Executive Director Brian Holst and Board President Garrett Schoenberger states.

Holst, in an interview with the Juneau Independent on Tuesday, said that despite the uncertainties and shifts that occurred this year, the general state of Juneau’s economy as portrayed in the study is still largely valid.

"The big outlier is federal job count and we just don't know those numbers yet," he said. "But when we look at the other elements of our economy — the private sector, the tourism industry had record numbers. Those businesses did well."

Mining also appears to be having another strong employment year and "the companies themselves are benefiting from commodity prices that are at all-time highs this year," Holst said. The seafood industry, which has struggled recently, is also seeing higher prices this year.

The data in the JEDC report paints a mixed overall picture of Juneau’s economy, consistent with other recent economic reports for Alaska and the Southeast region. The data indicates a long-term population decline and varying economic success among industries.

"We did see a pause in the erosion of State of Alaska jobs in Juneau for the first time in about a decade, though the fiscal issues at the State remain unaddressed," the report states. "(Juneau’s) population is both aging and declining. Our private sector is producing a record number of jobs and Juneau’s overall economy continues to be solid. Tourism, measured by number of cruise passengers, is at an all-time high in 2025, as is employment in the mining sector. The multi-year decline in the number of people that commercially fish in Juneau continues, though."

Among the topline numbers in the JEDC report: • Juneau’s population in 2024 was 31,436 (down 0.6% from 31,616 in 2023). Younger residents under 40 dropped by about 1.65% while residents 60 and over increased by 1.5%.

• The average annual salary for workers was $68,352 in 2024 (up 4.2% from 2023)

• Total employment increased 1.5% in 2024 to 18,052 workers. The largest gain was federal civilian workers at 6.1% — which will see a sharp reversal this year due to mass firings since mid-February by the Trump administration. Commercial fishing permits saw a 2.7% decline to 537 in 2024 compared to 552 in 2023. The unemployment rate rose 9.7% to 3.4% in 2024, up from 3.1% in 2023.

• A 65.7% increase in new housing permits, with 169 in 2024 compared to 102 in 2023. Most of the increase was for condominiums and apartments. The median price of a single-family home rose 7.2% to $560,000 in 2024, compared to $522,500 in 2023. Juneau’s median rental price for all units increased by 10.8% to $1,661 between January of 2024 and March of 2025, the fourth-highest rate statewide besides Fairbanks, Anchorage and Kodiak.

• While school enrollment is in a long-term decline, the education level of residents is well above average with 49.7% of local residents 25 or older earning an associate degree or higher, while only 40.3% of individuals statewide have earned a degree beyond high school.

A number of contrasting findings are in the JEDC study, potentially allowing local residents and businesses to claim they’re faring better or worse than other cities.

Juneau's private sector average monthly wage of $5,289, for instance, "is lower than that of Anchorage, Fairbanks, and the state average," according to the study. However, per capita income — representing the average for all local residents — was higher than Anchorage, Fairbanks and state/national averages.

Alaska’s capital city also has a growing income gap, with 50.4% of households earning more than $100,000 per year, compared to 44.7% statewide and 39.3% nationally. But while Juneau’s poverty rate of 8.2% in 2023 "is significantly lower than Alaska and the United States as a whole, it has been growing closer to Alaska & U.S. poverty rates since 1990," according to JEDC.

Wages by occupation also differ considerably.

"While only accounting for 4% of jobs, the mining industry brought in 11% of total earnings for Juneau in 2024, indicating high wages," the study notes. "In contrast, the retail trade industry represents a relatively high percentage of employment at 10%, but only contributes 5% of total earnings in Juneau, indicating lower wages."

• Contact Mark Sabbatini at editor@juneauindependent.com or (907) 957-2306.