POPULATION AND JOB GAINS POSITION IN OKLAHOMA FOR 2025
If households are going to rely on labor income to support consumption activity in 2025, then Oklahoma is starting from a position of strength. With only 0.6 unemployed persons per available job, job seekers should encounter short job searches and avenues to higher wages. This will mean that employers will continue to fight each other for qualified candidates and may need to be creative in their hiring and retention practices. That both Oklahoma’s population growth rate and employment rate are above national measures speaks to the strength of the state’s economy. While there is no guarantee that 2025 will pass without disruptive events, at least Oklahoma will face them from a position of strength. Expect the state to add jobs in 2025 with the pace of job creation accelerating in the second half of the year. Nonfarm employment gains are expected to average 3,500 new jobs per month, leading to 42,000 new jobs across the state in 2025, marking 2.3% growth. The job gains will be concentrated in urban, metro areas and in labor intensive service sectors such as health services, retail and wholesale trade, and leisure and accommodation services. Expect strong growth in the goods sector led by construction gains and job gains in the state’s oil and natural gas industry.
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2025 ECONOMIC OUTLOOK
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