Oklahoma companies and governments added greater than 47,000 staff in 2022, however the unemployment charge ticked greater final 12 months as extra folks sought work.
The newest state-by-state unemployment figures from the US Bureau of Labor Statistics had been launched on Tuesday.
Earlier this month, the bureau launched figures about job openings in every state in November, exhibiting there are nonetheless way more openings in Oklahoma than job-seekers.
This is what to know:
Extra staff in Oklahoma
The state ended 2022 with 1,702,600 staff on non-farm payrolls, seasonally adjusted. That was up from 1,655,200 in December 2021. The rise was 2.9% 12 months over 12 months. Complete nonfarm employment in December 2020 was 1.625 million; in December 2019, it was 1.705 million.
Authorities employment grew by about 5,000 staff 12 months over 12 months, with about 350,000 folks employed in that sector — the state’s largest — on the finish of the 12 months. The Leisure and Hospitality sector added 10,000 jobs 12 months over 12 months, Schooling and Well being Providers added 7,000; Commerce, Transportation and Utilities — the biggest nongovernment sector, with 327,000 staff — added practically 10,000 jobs; Monetary Actions added about 3,000 jobs; Skilled and Enterprise Providers added lower than 1,000; Development added greater than 3,000; Manufacturing added 5,000; and Mining and Logging added about 3,400.
“Oklahoma’s spectacular job development, and our latest rating as third within the nation for fastest-growing economic system, is a direct results of Governor (Kevin) Stitt’s pro-business and pro-freedom insurance policies,” mentioned Kate Vesper, Stitt’s press secretary.
Over the 12 months, seasonally adjusted unemployment additionally elevated, rising by 10,979 folks — 21% — 12 months over 12 months, to 63,636 in December.
Nationally, the economic system added 4.5 million jobs in 2022.
Extra:Oklahoma’s jobless charge has been rising, and Fed expects greater unemployment in 2023
Unemployment charge
The unemployment charge remained at 3.4% for the third straight month. That’s up from 2.8% in December 2021 and is the very best since August 2021, when it was 3.5%.
The unemployment charge reached 12.5% in April 2020, at the start of the pandemic, however was right down to 2.6% in February 2022. The speed now’s about what it was earlier than the pandemic, when it hovered simply above 3% for a number of months.
Utah had the bottom unemployment charge within the nation final month, at 2.2%. Nevada had the very best, at 5.2%.
President Joe Biden mentioned Tuesday, “Right this moment’s state unemployment charges give much more causes for optimism all around the nation. We see file lows from Pennsylvania to South Dakota to Alaska. 38 states are actually at or under 4 % unemployment, together with 15 states at or under 3 %.”
The nationwide unemployment charge in December was 3.5%.
Extra:Oklahoma financial development amongst highest in nation
Job openings, hires and quits
The newest job openings numbers from the Bureau of Labor Statistics present Oklahoma continued to have about twice as many roles open as folks looking for work.
In November, there have been 132,000 job openings in Oklahoma, whereas 64,473 folks had been on the unemployment rolls. The job openings had been 10,000 greater than in November 2021.
About 82,000 folks had been employed in Oklahoma in November, in comparison with 85,000 in November 2021.
Separations in November totaled 77,000, with folks quitting their jobs accounting for 57,000 of these. Layoffs and discharges in November had been 16,000. The layoffs and discharges had been under the November 2021 stage of 19,000.
wages rise
Oklahoma’s non-public sector common hourly wage grew to $26.94 in December, which was up from $25.32 in December 2021. That 6% enhance compares to the 7% enhance within the Shopper Worth Index 12 months over 12 months within the South area.