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Business and Economy

Rickman: Oklahoma Will See Job Growth In 2015 But Oil Prices May Slow It Down

Oklahoma State University economist Dan Rickman
Oklahoma State University

Oklahoma will continue to see job growth in 2015, even if lower energy prices slow those increases, Oklahoma State University economist Dan Rickman said Tuesday.

Speaking at the 2015 Oklahoma Economic Outlook Conference, which is hosted by the OSU Center for Applied Economic Research at the university’s Spears School of Business, Rickman forecast over 30,000 jobs will be added to the Oklahoma workforce during the 12-month period beginning Jan. 1.

The majority of the jobs, he said, are expected to be in administrative and support services and durable goods manufacturing. More than 5,000 new jobs are projected to be created in each sector, according to Rickman.
Over 4,000 jobs are expected to be created in each of health services and the accommodation, food services, leisure services and hospitality sector.

Rickman cautioned, “Declining oil prices is the major headwind facing the Oklahoma economy. The current forecast is for a minor decline in energy related employment in 2015, but the decline will prove to be greater should oil prices fall further.”

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