Business and Economy
10:05 am
Sat July 19, 2014

Oklahoma Unemployment Rate Down To 4.5% In June

Richard McPherson - Executive Director, the Oklahoma Employment Security Commission
Richard McPherson - Executive Director, the Oklahoma Employment Security Commission
Credit Oklahoma Employment Security Commission

The state’s seasonally adjusted unemployment rate declined to 4.5% in June from 4.6% in May, according to a press release from the Oklahoma Employment Security Commission.

The report issued Friday indicates over the year, Oklahoma’s seasonally adjusted unemployment rate improved by a whole percentage point, dropping from 5.5% in June of 2013.

The report shows that in June 2014, 1,793,570 people were in the labor force population, with 1,712,400 employed and 81,170 unemployed.

These numbers, however, represent a decrease in all categories from June 2013. The labor force has decreased 1.3% in the last 12 months, and the number of employed people declined 0.3%, and the unemployed population decreased 18.7%.

In June, Oklahoma’s seasonally adjusted nonfarm employment grew by 9,600 jobs or 0.6 percent, while U.S. increases were just 0.2% for the month. Over the year, state nonfarm employment was up by 33,900 jobs or 2.1 percent.

All nine of Oklahoma’s reported sectors added jobs in June, as Trade, Transportation & Utilities led the way with 3,100 new jobs. Seven of the nine reported sectors posted over-the-year growth in June. Trade, Transportation & Utilities also provided the largest year-to-year job gain with 9,300 new jobs.  

Government and Mining & Logging were again the large sectors to contract over the year. In the Government sector, federal and state jobs fell but local government jobs increased.  The sub-sector of Professional, Scientific and Technical jobs have also fallen 2.8% in the past year. The sector of Information, which is not seasonally adjusted, also saw a 3.2% decrease in employment over the 12 month period.