OKC MSA Age Distribution
OKLAHOMA CITY MSA LABOR POOL AND INDUSTRY SECTOR COMPOSITION • Even as Oklahoma City’s population grows, it remains younger on average than the U.S. population. The OKC metro median age (37.1) is two full years younger than the nation (39.1). • 39% of the metro population is in the prime working age category of 25-54. • A high concentration of young people in the metro should provide labor pool support for years to come. Quality of life improvements and job opportunities will be critical to keep these young people in the market as they age. • Job gains in 2024 are expected to be led by health services and the trade sector (retail, wholesale, transportation, and utilities). • Job gains in health and trade are expected to represent more than half or 1.08% of the expected 2% gains in 2024 private payrolls. • Leisure and hospitality employment is expected to be flat as consumer spending weakens, but if the consumer can prove resilient once more, this sector could drive job growth above the projection. • Currently, the Oklahoma City metro has the highest concentration of its jobs in the labor- intensive health services, leisure services, and retail trade industries. • Manufacturing remains an important piece of the composition of employment with scientific and technical services and financial services emerging as important employment bases. • The small direct employment contribution of mining (oil and natural gas) contradicts its true importance as many oil and gas supply chain jobs are scattered within other industries.
8%
OKCMSA Percent US Percent
7%
6%
5%
4%
3%
2%
1%
Age Range
Source: United States Census Bureau
-0.30% -0.10% 0.10% 0.30% 0.50% 0.70% LEIS INFO MIN FIN CONST MFG PBS OTHER GOV TRADE EDHLTH -0.07% 0.00% 0.04% 0.06% 0.08% 0.09% 0.15% 0.18% 0.40% 0.48% 2024 Nonfarm Payroll Growth: 2.0% Health services, trade, and the public sector should contribute the most to OKC metro job growth in 2024 0.60% -1,500 -500 500 1,500 2,500 3,500 4,500 LEIS INFO MIN FIN CONST MFG PBS OTHER GOV TRADE EDHLTH -467 -17 266 408 582 610 1,058 1,208 2,742 3,317 4,127 2024 Nonfarm Payroll Growth: 13,835 Jobs The Oklahoma City MSA is expected to add nearly 14,000 jobs in 2024 Source: Bureau of Labor Statistics, author calculations
Source: Bureau of Labor Statistics, author calculations
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2024 ECONOMIC OUTLOOK
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