Oklahoma jobless rate steady at 4 percent in April
Oklahoma posted a preliminary unemployment rate of 4 percent in April, unchanged from the adjusted rate the previous month.
But latest data from the U.S. Department of Labor and the Oklahoma Employment Securities Commission shows the state’s economy continues to improve, given that numbers for both the state’s labor force and employee participation rates improved.
“The data suggests that both ... are continuing to grow by attracting people from outside the labor force,” said Lynn Gray, the commission’s director of economic research and analysis.
While Gray said data showed there was a reduction in April in the number of unemployed people because they quit their jobs, he said it would be wrong to assume the number of quits fell.
“What seems more likely is that while there are more people quitting jobs now than last year, even more of these individuals are immediately becoming re-employed with little or no unemployment period between the two jobs.
“This could be a sign of even stronger wage growth right around the corner, as firms begin to protect their existing employees from competitors.”
As for changes inside the state economy’s various sectors, the April data showed seven of its super sectors added jobs, led by education and health services, which added 2,700.
Leisure and hospitality reported the largest over-the-month job loss, with 700, while government and other services lost 200, each.
But as for annual performance, leisure and hospitality was a big winner in adding jobs, posting a 5,200 gain during the past 12 months, equaling the number of jobs added in the mining and logging sector, which includes oil and gas companies.
The only sector showing a large decline in jobs during the past year was information, which lost 1,300 positions.
During April, Oklahoma’s economy added 5,800 jobs, and there only was a very slight increase in the estimated number of unemployed, officials said.
In the past year, Oklahoma employers expanded payrolls by 30,500, with the mining and logging, construction and manufacturing sectors leading the way.