Expanded oil industry activity in Alaska expected to help create statewide job growth
Yereth Rosen, Alaska Beacon, January 6, 2026
The state’s 2026 job forecast predicts a boost in oil and gas jobs and continued growth in health care and construction, but it notes some trouble signs, including more expected federal job losses
Alaska is expected to have moderate statewide job growth this year, led by continued expansion in the oil and gas industry and the health care sector, according to a new state forecast.
The Alaska Department of Labor and Workforce Development’s 2026 jobs forecast predicts an additional 3,000 jobs, amounting to 0.9% growth in employment for the coming year. That is slightly lower than last year’s growth of 1.2%, according to the forecast.
“Alaska’s economic drivers are mostly strong going into 2026,” said the statewide forecast, written by state labor economist Karinne Wiebold and published in Alaska Economic Trends, the department’s monthly research magazine.
By percentage, the oil and gas sector is expected to be the state leader in job growth; the 1,000 new jobs expected this year would amount to an 11.1% increase over 2025 total.
Much of the expected growth is from Santos’ Pikka oil field, where construction is now completed and production is set to start this year. Additionally, there is a general upswing in industry activity, the forecast said.
Growth in the oil and gas industry is expected to bring job totals in that sector to an average of 10,000 for the year – still below the peak of 14,800 achieved in 2014 but about back to the level in 2019, the last year before the COVID-19 pandemic. Oil and gas employment fell to its lowest point in the pandemic year of 2021, at 6,700.
Mayer Brown advises POSCO International on its equity investment in the Alaska LNG project
January 6, 2026
Singapore – Mayer Brown has advised POSCO International in connection with its equity investment in the US$45 billion Alaska LNG project in the United States, the only federally authorized LNG export project on the US Pacific Coast.
Alaska LNG is a joint venture between Glenfarne, majority owner and lead developer of the Alaska LNG Project, and the state-owned Alaska Gasline Development Corporation.
As part of the investment, Glenfarne entered into an agreement with POSCO International to supply 1,000,000 tons per year of LNG from the Alaska LNG project for 20 years. The deal also includes terms for POSCO to supply steel for Alaska LNG’s gas pipeline, which will connect the North Slope gas reserves to South-central Alaska and the export terminal.
Opinion: Alaska’s best infrastructure deal is hiding in plain sight
Carrie Jokiel, Anchorage Daily News, January 3, 2026
Alaska’s transportation system quietly supports nearly every part of daily life in our state. Roads connect families and communities. Airports link rural Alaska to essential goods and services. Bridges keep freight, emergency responders and commerce moving safely across long distances.
Maintaining that system requires partnership, planning and follow-through. Right now, Alaska has an opportunity to demonstrate all three.
Federal transportation programs provide Alaska with formula-based funding each year, but accessing those federal dollars requires the state to provide a match, typically about 10%. When Alaska meets that obligation, we unlock roughly nine times as much in federal funding for transportation projects across the state. It’s a proven process we’ve relied on for decades to build and maintain our infrastructure, and it has served us well.
The governor’s current proposed budget includes a $70 million supplemental appropriation using unrestricted general funds to meet the federal fiscal year 2026 match. That state investment would enable roughly $700 million in total transportation funding to flow through Alaska’s economy. It is a practical proposal and one that reflects both fiscal responsibility and long-term thinking.
It makes sense from a simple numbers perspective. An example most of us can relate to is retirement savings. If your employer offered to deposit $9,000 for every $1,000 you contributed, we would all max out our contributions in a heartbeat. That’s essentially the same deal being offered to the state, only instead of growing a retirement account, we’re building roads and bridges.