Oklahomas Economic Performance Oklahoma Department of Commerce - PowerPoint PPT Presentation

Oklahoma’s Economic Performance Oklahoma Department of Commerce

Economic Measures  Employment  Unemployment  Labor Force  Participation  Gender  Age  Income  Education

Month ‐ over ‐ Month Employment

Year ‐ over ‐ Year Growth by State 9.0% Oklahoma experienced nearly 4% employment growth YoY and nearby states (Arkansas, Texas, and Colorado) have also experienced strong growth 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% AR TX IN CO IA WY NM CT RI TN NY ID MN OH OK VA OR AK VT SD DC WI ME NV KS PA LA HI NJ WA NC GA MI CA IL ND NE FL SC MS MT NH MO MA KY WV MD DE AL AZ

Employment Growth Rates OK TX US 4.00% 3.00% 2.00% 14 13 1.00% 0.00% 2008 2009 2010 2011 2012 2013 ‐ 1.00% ‐ 2.00% ‐ 3.00% ‐ 4.00% ‐ 5.00% Source: BLS, CES Seasonally adjusted total nonfarm employment

Regional Employment Growth Durant Ada Ardmore Duncan McAlester 35000 33000 31000 29000 27000 25000 23000 21000 19000 17000 15000 2008 2009 2010 2011 2012 2013 2014

Unemployment Rate by State Source: BLS, LAUS

State Unemployment Rate Comparison OK TX US 10 9 8 7 6 5 4 3 2008 2009 2010 2011 2012 2013

County Unemployment Rates Bryan County: 4.9% The unemployment rates for 30 of Oklahoma’s 77 counties dropped in February, while rates rose in 27 counties. The statewide non ‐ seasonally adjusted rate remained at 5.3%.

Micropolitan Unemployment Rates Durant Ada Ardmore Duncan McAlester 10 9 8 7 6 5 4 3 2 1 0 2008 2009 2010 2011 2012 2013 2014

Unemployment Rates by Cohort Bryan County 15.00% 12.80% 12.50% 9.90% 10.00% 7.60% 7.50% 5.70% 5.12% 5.00% 4.97% 5.00% 4.30% 2.50% 1.30% 0.00% Total, 65 White, Men, Age White, men Women, Hispanic or Black or Black or Hispanic or years and women 20+ Age 20+ Latino African African Latino over ethnicity, American, American, ethnicity, men men women women

Labor Force Growth Rates OK TX US 3.0% 2.5% 2.0% 14 13 1.5% 1.0% 0.5% 0.0% 2008 2009 2010 2011 2012 2013 ‐ 0.5% ‐ 1.0% ‐ 1.5% Source: BLS, LAUS Seasonally adjusted

Annual Labor Force Growth Rate 7% Labor Force Growth Rate 6% 2012 5% Oklahoma is ranked #4 in net workforce with a growth rate of 2.1% for 2012 4% 3% 2% 1% 0% ‐ 1% ‐ 2% ‐ 3% DC UT NC NE LA MD NJ NY NM MA MI VA AZ CA NH CO SC SD TN WA MS KS IA IN NV HI

Regional Labor Force Growth Durant Ada Ardmore Duncan McAlester 40000 35000 30000 25000 20000 15000 2008 2009 2010 2011 2012 Source: BLS, LAUS

Labor Force Participation Rate Labor Force by Demographic Labor Force Participation Rate Population Employment 90% 80% 83% 80% 70% 71% 71% 68% 68% 65% 60% 60% 60% 55% 50% 54% 54% 52% 52% 52% 50% 40% 30% 20% 10% 0% OK male OK female White male White Black male Black female Hispanic Hispanic female male female Source: CPS, 2013 annual averages

OK Median Age by County

OK Median Household Income

OK Households in Poverty

Participation by Education Level Not in Labor Force Employed Unemployed 73.3% Bachelor's Degree and higher 168.0 LFPR 65.2% Associate's Degree or Certificate 258.3 LFPR 58.3% High School Diploma 341.8 LFPR 40.6% Less than High School 152.9 LFPR 0 100 200 300 400 500 600 700 800 900 In thousands Source: CPS, rolling average Dec. 12 through Dec. 13

Bachelor’s Degree or Higher

Less than a High School Degree

Southern WIB Ecosystems Agriculture & Energy Transportation Distribution Tourism Biosciences Transportation Animal & Crop Warehousing & Casinos/ Casino Refineries Equipment Production Storage Hotels Manufacturing Machinery & Forestry and Wood Wholesale Brokers Accommodations Equipment Product Tire Manufacturing Manufacturing Manufacturing Research & Oil and Gas Support Electrical & Oil/Gas Recreation Activities Development in Ag Freight Trucking Activities Biosciences The specific industries listed under the ecosystems are neither comprehensive nor exclusive. They are only examples to demonstrate a diversity of activities.

OK’s Educational Attainment Differential for New Jobs (2020) High School Degree or Less Some College/ Vocational/Assosiates Degree Bachelor's Degree Post Bachelors Degree 60.00% 50.00% 50.70% 48.90% 47.10% 40.00% 30.00% 30.40% 30.00% 22.90% 23.70% 20.00% 15.10% 11.60% 10.00% 7.70% 7.30% 4.50% 0.00% 2013 OK Educational Attainment 2013 Durant Educational Oklahoma's Projected Job Attainment Requirements New Jobs defined as those jobs projected to be created between 2012 and 2020. Source: 2012 5 year ACS; EMSI Complete Employment ‐ 2013

High Growth Occupations 2013 ‐ 2023

High Growth Industries: 2013 ‐ 2023

For more information: www.okcommerce.gov/data Sean_kelley@okcommerce.gov