As recession eases, what will drive recovery?

The recession is moderating but job losses continue. April wage and salary employment was down 1,200, or 0.4 percent. Retail, oil and gas, government and most other occupations registered declines, although smaller than in recent month. Construction and transportation were level with April, 2017, however, and health care showed continuing growth. At some point job losses will atten, but economists are now wondering what can restart growth?

The losses of high-paying jobs in several industries due to the oil price crash has created this recession. The Legislature’s action to stabilize state nances will restore some business con dence, but it doesn’t bring new cash into the economy. Is there some- thing out there that can inject new cash back into the economy? New projects on the North Slope that are planned will help, but probably not enough to really turn things around. The planned $6 billion-plus Donlin gold mine would also help. The only thing out there capable of really “moving the needle” is the Alaska LNG Project.

(More on this problem in our next report)