October 25, 2024 — The Alaska fishing industry, long regarded as an economic engine and cultural cornerstone, is grappling with steep financial losses and structural challenges. A recent Alaska Seafood Snapshot economic report by NOAA Fisheries underscores the scale of the crisis, showing that the state’s seafood sector has been hit with nearly 7,000 lost jobs, shrinking profitability, and a $1.8 billion decline in revenues between 2022 and 2023.
The report is based on ex-vessel landings, processed products, and wholesale revenue data through 2022, alongside statistical projections for 2023. Analysts also spoke with fishermen, processors, and community members to better capture the social impacts of the downturn. While this report focuses on the commercial fishing sector, NOAA noted that future studies may explore the broader effects on recreational and subsistence fisheries.
As Robert Foy, director of the Alaska Fisheries Science Center stated in a press release, “The social and economic ramifications of Alaska’s losses have reverberated down the West Coast and across the country.”