Economic Indicators and Information
Below are listed some of the economic indicators that help describe the economic vitality and potential of the Skagway economy. More indicators will be added over time. These indicators are derived from various state and federal agencies, and SDC cannot vouch for their accuracy.
Wages
The minimum wage in Alaska is $7.75 per hour.
For a comprehensive look at occupational wages for Southeast Alaska, click here. These are compiled by the Dept. of Labor & Workforce Development and reflect the wages as of May 2005.
The Cost of Living Pay Differential (COLA) for Skagway is 105% with Anchorage being the Base (100).
Taxes
The City of Skagway has adopted the following tax schedule:
Sales Tax: 4.0%
Bed Tax: 8.0%
Property Tax (2006-07):
Service Area I: 8.48 mills
Service Area II: 7.00 mills
Service Area III: 5.60 mills
Service Area IV: 3.65 mills
Service Area V: 1.53 mills
A $100,000 home will cost between $153 - $848 in Property Taxes depending on the Service Area. There are NO State sales or income taxes. There are NO local personal property or income taxes.
Unemployment
The unemployment rates for Skagway alone are difficult to determine as Skagway is included in the Skagway-Angoon-Hoonah Census Area (CA). There are at least seven (7) communities in this Census Area and although geographically close they have very differing economies and employment opportunities. Although only anecdotal, it would be difficult to imagine any unemployment in Skagway during May-September. At this time many people have more than one job to ensure they have plenty of savings to get them through the leaner winter months. Many people would prefer to be working in the winter given the opportunity. Skagwegians are not scared of work and usually work long hours, 6 to 7 days a week in the summer.
The unemployment rates for January and July (below) are indicative of the seasonal nature of the Skagway economy and that of Southeast Alaska as a whole.
| AREA | January 2007 % |
March 2007 % |
May 2006 % |
July 2006 % |
September 2006 % |
November 2006 % |
| Skagway CA | 23.2 |
19.3 |
9.1 |
6.6 |
6.0 |
18.6 |
| Alaska | 6.4 |
6.6 |
6.9 |
6.3 |
5.9 |
6.1 |
| USA | 4.6 |
4.5 |
4.4 |
5.0 |
4.4 |
4.3 |
Source: Alaska Department. of Labor & Workforce Development.
Income and Poverty Levels
| Per Capita Income | $27,700 |
| Median Household Income | $49,375 |
| Median Family Income | $62,188 |
| Persons in Poverty | 32 |
| Percent Below Poverty Level | 3.7% |
Source: US Census 2000
CPI for Anchorage and U.S.
Annual Average Consumer Price Index
All Items - All Urban Consumers
US |
Anchorage |
| Year | Average |
% Change from Previous Year |
Average |
% Change from Previous Year |
| 2006 | 201.6 |
3.2 |
177.3 |
3.2 |
| 2005 | 195.3 |
3.4 |
171.8 |
3.1 |
| 2004 | 188.9 |
2.6 |
166.7 |
2.6 |
| 2003 | 184.0 |
2.3 |
162.5 |
2.7 |
| 2002 | 179.9 |
1.6 |
158.2 |
1.9 |
| 2001 | 177.1 |
2.8 |
155.2 |
2.8 |
| 2000 | 172.2 |
3.4 |
150.9 |
1.7 |
| 1999 | 166.6 |
2.2 |
148.4 |
1.0 |
Source: U.S. Dept. of Labor, Bureau of Labor Statistics (BLS).
Base: 1982-84=100 Last Update: 2/4/05