Investigating the Relationship Between Unemployment Rate and Alaska’s Unique Universal Basic Income

Jessica J. Zhang

doi:10.54254/2754-1169/75/20241756

Research Article

Open access

Published on 17 April 2024

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Zhang,J.J. (2024). Investigating the Relationship Between Unemployment Rate and Alaska’s Unique Universal Basic Income. Advances in Economics, Management and Political Sciences,75,11-16.

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Investigating the Relationship Between Unemployment Rate and Alaska’s Unique Universal Basic Income

Jessica J. Zhang *^,1,

¹ University of California, Irvine Department Political Science

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/75/20241756

Abstract

The distribution of the Alaska Permanent Fund Dividend (PFD) has existed for over four decades. Similar to a universal basic income PFD entitles each Alaska resident to an equitable portion of an annual government allocation. This paper examines how Alaska’s Permanent Fund Dividend impacted Alaska’s unemployment rate before and during the pandemic. It also evaluates the merits of a universal basic income before and during a pandemic. This paper demonstrates a positive association between the unemployment rate and the distribution of the Alaska Permanent Fund Dividend. As unemployment rates increase, the dependence on the additional income offered by the Alaska Permanent Fund Dividend or Universal Basic Income becomes increasingly evident. In other words, the PFD is designed to distribute the state's resource wealth among its residents and appears to function as a stabilizing influence during economic downturns. It serves as a financial safety net for individuals experiencing job losses, potentially alleviating financial strain on both individuals and families, and mitigating the adverse effects linked to elevated unemployment rates.

Keywords

Alaska, Universal Basic Income, COVID-19, socioeconomic

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References

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Cite this article

Zhang,J.J. (2024). Investigating the Relationship Between Unemployment Rate and Alaska’s Unique Universal Basic Income. Advances in Economics, Management and Political Sciences,75,11-16.

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About volume

Volume title: Proceedings of the 3rd International Conference on Business and Policy Studies

Conference website: https://www.confbps.org/

ISBN：978-1-83558-373-9(Print) / 978-1-83558-374-6(Online)

Conference date: 27 February 2024

Editor：Arman Eshraghi

Series: Advances in Economics, Management and Political Sciences

Volume number: Vol.75

ISSN：2754-1169(Print) / 2754-1177(Online)

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