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State Treasurer's Report: Oklahoma's Recession Hits The 1-Year Mark

Oklahoma state Treasurer Ken Miller speaks during a news conference n Oklahoma City, Wednesday, July 8, 2015.
Sue Ogrocki
/
AP
Oklahoma state Treasurer Ken Miller speaks during a news conference n Oklahoma City, Wednesday, July 8, 2015.

The state treasurer's office says the latest gross domestic product report shows a year-long recession in Oklahoma. The state GDP report by the Bureau of Economic Analysis indicates Oklahoma's economy has contracted for four straight quarters going back to the spring of 2015.

“Oklahoma ranked 39th among the state for economic change during the first three months of the calendar year, with GPD down 0.5 percent,” the report says. “It is one of 13 states that experienced negative economic growth during the quarter.”

Mining, durable goods manufacturing, transportation, and wholesale trade all contracted by less than a percent during the second quarter. Agriculture grew by 0.83 percent during that time frame.

State Treasurer Ken Miller's monthly Oklahoma Economic Report out this morning also says Oklahoma's unemployment rate for June is still below the national average, but rose by one-tenth of a percentage point since May. 

Read The Entire Report From The Treasurer's Office

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Brian Hardzinski is from Flower Mound, Texas and a graduate of the University of Oklahoma. He began his career at KGOU as a student intern, joining KGOU full time in 2009 as Operations and Public Service Announcement Director. He began regularly hosting Morning Edition in 2014, and became the station's first Digital News Editor in 2015-16. Brian’s work at KGOU has been honored by Public Radio News Directors Incorporated (PRNDI), the Oklahoma Association of Broadcasters, the Oklahoma Associated Press Broadcasters, and local and regional chapters of the Society of Professional Journalists. Brian enjoys competing in triathlons, distance running, playing tennis, and entertaining his rambunctious Boston Terrier, Bucky.
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