Unemployment Rate in Oklahoma, Lower than National Rate

21 May

Unemployment Rate in Oklahoma, Lower than National Rate

Employment is an important topic, not just for individuals but also for the economy at large. With the majority of people working and having a stable job, more people have the capacity to spend with businesses and the economy benefitting from the trend. Therefore, it is important to have a lower unemployment rate in the state.

In the recent unemployment rate report, Oklahoma has earned one of the better rates in the country. Its unemployment rate has, and continues to dip below less than 5% for the month of April. The Oklahoma Employment Security Commission reported that the state had decreased its rate of unemployment from last month with a rate of 4.9%. A one-tenth of a percentage point was reduced with previous rates within the flat 5%.

The commission further indicates that the rate for Oklahoma unemployment is much lower than  that of other states. Based on the report, Oklahoma’s 4.9% is lower than the national average rate of 7.5%.

What reduced the unemployment rate is the increase in the employment in several job sectors. Non-farm employment rose by 1,800, while professional and business sector earned an increase of 1,300 jobs. Though leisure and hospitality sector dropped its employment rate by 2,000, this sector still shown to be one of the highest increasing sectors in employment by 5,900 jobs between April 2012 and April 2013.

Jennifer Fields
Oklahoma City & Edmond Real Estate Agent
405.330.0031

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