State’s steady jobless rate is good economic news, labor analyst says

While Oklahoma’s unemployment rate of 4.3 percent is unchanged from a month ago, a state labor analyst said Friday this month’s report shows the state economy continues to mend.

“It is a positive report,” said Lynn Gray, the director of research and analysis at the Oklahoma Employment Security Commission.

“The number of unemployed has been stable for several months, and on the payroll side, we are seeing increases.”

Gray noted payroll jobs data collected through surveys with state employers showed an increase of 3,700 in June.

That growth was spread across various sectors of the state’s economy, including oil and gas, durable goods manufacturing, and in professional and business services.

“We are adding jobs in the categories that really drive our economy,” Gray said.

Oklahoma’s 4.3 percent unemployment rate for June is preliminary, and subject to being revised. However, the estimate, if it stands, will make it a fourth consecutive month the percentage of unemployed Oklahomans has remained at that level.

Other data released in the statewide unemployment report show the number of Oklahomans in the state’s civilian labor force is down about 13,000 over the past few months.

However, Oklahoma’s preliminary labor force number of 1,822,388 in June is not far off from what was reported a year earlier, which was 1,824,453. A year ago, Oklahoma’s unemployment percentage was 5 percent.

The report’s prelimi- nary data also estimates the number of unemployed Oklahomans in June was 78,891. It says an estimated 79,027 were unemployed in May.

Gray said that while Oklahoma is still down 19,300 jobs from its all-time high in January 2015, the state has added 8,800 payroll jobs during the past 12 months.

As for the gains noted in June, the state’s mining sector, which includes oil and gas, grew by 800 jobs. So far this year, the sector has added 5,500 positions.

Construction jobs grew by 1,000, retail trade jobs grew by 2,100, and professional and business services jobs were up by 2,600.

Meanwhile, job numbers were down in June for the health care and social assistance, leisure and hospitality and other services sectors of the economy, Gray said.