The fishing industry in the state of Alaska is thriving as always. Despite the ongoing financial crisis in the global market, the fishing industry remains a lucrative market.
According to the data released in the latest issue of Alaska Economic Trends, the number of jobs related in the fishing industry has reached more than 50,000. The numbers usually go higher during peak seasons.
Employment pertaining to fish harvesting declined slightly last year at 0.7 percent thus bringing the 7-year tally to a decline of 17 percent. The figures are affected by the state of salmon markets.
As for fishing jobs, more than 2,300 permits were released in 2007 with 30 percent of the workers connected with the salmon market. Groundfish landings in the state reached four billion pounds and created additional 1,182 jobs last year, not to mention the addition of 1,246 fishermen in halibut fishery.
Overall, the state’s fishing industry helped Alaska’s GDP last year after it contributed more than $770 million. It only shows that the fishing industry in Alaska is not affected by the global economic crisis. Seafood products have generated $2 billion worth of exports for the state in the past two years.