INTRANET IMPACT PROGRAM PROPOSAL

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Oklahoma Economic Trends August 5, 2009
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Economic Trends

• Employment
• Demographics, Employed, Underemployment
• Industries
• Sector of GDP and Employment Growth
• Commodities
• Oil and Natural Gas Prices and Consumption
• Consumer Activity
• State Revenues, Income, Confidence and Prices

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Population Distribution
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Age Distribution
Source 2007 American Community Survey, US Census

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Educational Attainment
Source 2007 American Community Survey, US Census

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Unemployment Rate by County (June 2009)
Source OESC (http//www.ok.gov/oesc_web/Services/
Find_Labor_Market_Statistics/LAUS/)
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Unemployment Rate by State (June 2009)
Source OESC (http//www.ok.gov/oesc_web/Services/
Find_Labor_Market_Statistics/LAUS/)
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Economic Trends

• Employment
• Demographics, Employed, Underemployment
• Industries
• Sector of GDP and Employment Growth
• Commodities
• Oil and Natural Gas Prices and Consumption
• Consumer Activity
• State Revenues, Income, Confidence and Prices

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Industry of GDP Total (2008)
Source Bureau of Economic Analysis, GDP by State
(millions of current dollars)
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GDP Growth by Industry (2000-2008)
Source Bureau of Economic Analysis, Real GDP by
state (millions of chained 2000 dollars)
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Employment by Sector (2007)
Source Bureau of Economic Analysis, Employment
by NAICS
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Growth in Employment by Sector (2000-2007)
Source Bureau of Economic Analysis, Employment
by NAICS
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Economic Trends

• Employment
• Demographics, Employed, Underemployment
• Industries
• Sector of GDP and Employment Growth
• Commodities
• Oil and Natural Gas Prices and Consumption
• Consumer Activity
• State Revenues, Income, Confidence and Prices

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Current State of the Economy

• Employment
• Demographics, Employed, Underemployment
• Industries
• Sector of GDP and Employment Growth
• Commodities
• Oil and Natural Gas Prices and Consumption
• Consumer Activity
• State Revenues, Income, Confidence and Prices

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OK State Revenues
Source OK State Treasurer (http//www.ok.gov/trea
surer/documents/June20Revenue20PR207-14-09.pdf)
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2009 Economic Indicators

• Employment
• Population shifting in state and OK lags behind
  US in within prime working age
• In the last two quarters, OK has felt the impact
  of the national recession
• While OKs unemployed has grown, the state
  remains in the bottom quintile for unemployment
  rates
• Industries
• Mining, manufacturing, real estate lead OKs
  private sector economy for GDP
• Oil Gas Prices and Consumption
• Prices are predicted to stay low based on reduced
  international demand and current high stores
• Consumer behavior
• Retail sales appear relatively steady while auto
  sales have dropped
• Consumer price inflation has moderated