October 16, 2024 — Falling revenue and rising costs have hit Alaska’s fishing industry hard, according to a new study by NOAA Fisheries. In an economic review requested by fishermen and processors, NOAA found that profitability dropped by half from 2021-23, and wholesale prices dropped by a quarter in 2022-23. This left the Alaskan seafood industry with a total direct loss of $1.8 billion in 2022-3 and the loss of about 38,000 jobs.
“For many Alaskans the decline of their seafood industry affects their pocketbooks, presents food security concerns, and impacts their way of life, sense of place, community, and identity,” NOAA noted. “In the face of evolving climate-driven impacts to ecosystems and fisheries in the region, these recent market disruptions undermine the capacity of all segments of the seafood industry and associated fishing communities to be resilient and survive in fisheries.”