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    $1.5 Billion and Growing: Economic Contribution of Older Alaskans

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    Author
    Goldsmith, Scott
    Angvik, Jane
    Keyword
    retirees
    direct payments
    health care costs
    social security
    Understanding Alaska
    Metadata
    Show full item record
    URI
    http://hdl.handle.net/11122/12196
    Abstract
    Nearly $1.5 billion a year flows into Alaska from a source that doesn’t depend on oil or fish or gold, isn’t influenced by world markets, and isn’t seasonal. That cash flow roughly equals what fishermen were paid in 2005 for their Alaska seafood harvests, or the value of zinc, gold, and other metals mined in Alaska in 2004. It’s close to what tourists spend here every summer. What’s the source? Retired Alaskans. The 52,000 retirees age 60 or older brought an estimated $1.46 billion into the state in 2004. About 75% is from Social Security and pensions. Most of the rest is spending by governments and private insurers for health-care costs of retired Alaskans. ISER estimates that spending by retirees supports about 11,700 jobs—or nearly 4% of Alaska’s wage and salary jobs. This summary reports ISER’s findings about the economic contributions of older Alaskans, describes who they are, and estimates how their numbers are likely to grow.
    Date
    2006
    Publisher
    Institute of Social and Economic Research, University of Alaska.
    Type
    Report
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