Economics of Harvesting Weigh Heavy on Alaska’s Fishing Industry
The rising costs of harvesting seafood are weighing heavily on the seafood industry, with employment down 8% in 2023, according to a report in Alaska Economic Trends magazine.
The summary in the magazine’s November 2024 edition notes that prices didn't dramatically increase in 2024, so overall employment isn't likely to bounce back, but if prices do recover for most species, there will be fish to catch.
Over the last decade, fish harvesting employment has fallen more than 30%. The only industry that fared worse in that time period was oil & gas, according to Joshua Warren, an economist with the Alaska Department of Labor and Workforce Development.
The seafood industry in Alaska has struggled over the past year, with some fisheries closed, including the Bering Sea snow crab...
