Oklahoma Economic Trends October 6, 2009

Transcription

1 Oklahoma Economic Trends October 6, 2009

2 Oklahoma s Economic Trends Deidre Myers Director of Research and Economic Analysis November 17, 2009

3 Identified State Trends Demographics Employment Gross Regional Product Industries Establishments

4 Population Distribution 1910

5 Population Distribution

6 Population Distribution

7 Population Distribution 1910 to 2008

8 Harmon Pottawatomie Seminole Washington Population Distribution Cimarron Texas Beaver Harper Woods Alfalfa Grant Kay Osage Nowata Craig Ottawa County Population Percent Change % or more 3.0% to 9.9% Ellis Roger Mills Woodward Dewey Custer Major Blaine Delaware Garfield Noble Rogers Mayes Pawnee Payne Tulsa Kingfisher Wagoner Cherokee Creek Logan Adair Lincoln Okmulgee Muskogee Canadian Oklahoma Okfuskee Sequoyah McIntosh 1.1% to 2.9% 1.0% to -1.0% -1.1% to -2.9% -3.0% to -9.9% -10% or less Beckham Greer Jackson Washita Kiowa Tillman Caddo Comanche Cotton Grady Stephens Jefferson McClain Cleveland Garvin Murray Carter Love Hughes Pontotoc Coal Johnston Marshall Bryan Haskell Pittsburg Latimer Le Flore Atoka Pushmataha McCurtain Choctaw

9 % of Population Age Distribution 2009 Oklahoma United States 25% 20% 15% 10% 5% 0% Under 5 years 5 to to to to to to to and over Source: EMSI

10 Educational Attainment 2008 Oklahoma United States 35% 30% 25% 20% 15% 10% 5% 0% Less Than 9th Grade 9th Grade to 12th Grade High School Diploma Some College Associate's Degree Bachelor's Degree Graduate Degree and Higher Source: EMSI, Educational Attainment Demographics 2008

11 Employees (in thousands) Employment Oklahoma United States Source: BLS, State-SMS Seasonally Adjusted, Total Nonfarm Employees; Nation-CES Seasonally Adjusted, Total Nonfarm Employees Scaled at 2.5% growth

12 Employment by Sector (2009) Oklahoma United States 15% 10% 5% 0% Agriculture Mining Utilities Construction Manufacturing Wholesale trade Retail trade Transportation and warehousing Information Finance and insurance Real estate and rental and leasing Professional and technical services Management of companies Administrative and waste services Educational services Health care and social assistance Arts, entertainment, and recreation Accommodation and food services Other services Government Source: EMSI, Employment by NAICS

13 Employment Index Employment Index by Sector OK Employment Index by Sector Mining Construction Manufacturing Trade, Transpt & Utilities Professional & Business Services Source: BLS, Current Employment Statistics; Indexed to January 1999

14 Industry % of GDP Total (2008) GDP by Sector 16% 14% 12% 10% 8% 6% 4% 2% 0% Agriculture Mining Utilities Construction Manufacturing Wholesale trade Retail trade Transp & Ware Information Finance & ins Real estate Prof and tech serv Management Admin & waste serv Educational serv Health & social asst Arts, entmt & rec Accom & food serv Other services Government Oklahoma United States Source: Bureau of Economic Analysis, GDP by State (millions of current dollars)

15 Establishments by Sector (2008) Oklahoma United States 14% 12% 10% 8% 6% 4% 2% 0% Agriculture Mining Utilities Construction Manufacturing Wholesale trade Retail trade Transportation and warehousing Information Finance and insurance Real estate and rental and leasing Professional and technical services Management of companies Administrative and waste services Educational services Health care and social assistance Arts, entertainment, and recreation Accommodation and food services Other services Government Source: EMSI, Establishments by NAICS

16 State Trends Oklahoma s population is migrating towards the metropolitan areas and interstate corridors. The regional economies of Sherman- Denison, TX and Fort Smith, AR are growing in Oklahoma. In 2008, the private sectors of mining, manufacturing, and real estate compromised a third of the state s GDP. By sector, Oklahoma s biggest private employers are retail trade, health care and social assistance, and manufacturing.