KGOU

economic outlook

oil pump jack
Paul Lowry / Flickr

The money collected by the state of Oklahoma, or gross receipts, totaled $970 million in May. That’s up by 13.6 percent from the same month last year and an all-time record for the state. It’s part of a steep upward trend that can be traced back to January 2017, according to the Oklahoma State Treasurer’s office.

Simon Cunningham / Flickr Creative Commons

A new report suggests slow economic growth is ahead for nine Midwestern and Plains states.

The survey report issued Wednesday says the overall Mid-America Business Conditions Index dropped to 51.4 in March from 57 in February. The January figure was 54.8.

Creighton University economist Ernie Goss oversees the survey, and he says manufacturers of nondurable goods reported that sales, production and employment have weakened over the past several months.

Simon Cunningham / Flickr Creative Commons

A new report suggests economic growth is ahead for nine Midwestern and Plains states.

The survey report issued Monday says the overall Mid-America Business Conditions Index climbed to 57.0 in February from 54.8 in January.

Creighton University economist Ernie Goss oversees the survey, and he says the regional growth is likely although areas "linked closely to the energy sector, including ethanol, are experiencing pullbacks in economic activity."

Oklahoma Treasurer Ken Miller
Joe Wertz / StateImpact Oklahoma

Oklahoma's top financial officer says the state's economy expanded in January.

State Treasurer Ken Miller said Thursday gross receipts entered new territory during the first month of 2015 with record highs in sales tax collections and total gross receipts than any January on record.

Sales tax collections generated almost $406 million — up by more than 7 percent from last year. Total gross collections during the month were $1.13 billion, topping the previous January high set last year by almost $66 million or 6.1 percent.

Meredithw / Flickr Creative Commons

A monthly business survey suggests only modest economic growth is likely in nine Midwestern and Plains states this spring because the agriculture and energy sectors are slowing.

The report released Monday says the overall economic index for the region improved slightly to 54.8 in January from December's 54.4.

Creighton University economist Ernie Goss, who oversees the survey, says growth for companies outside of energy and agriculture should offset the declines in those sectors.

Falling oil prices are raising concerns about Oklahoma’s state budget. Economists at the Oklahoma Economic Outlook Conference say the decline in oil prices could result in the loss of as many as 1000 energy sector jobs, and a loss of severance tax revenue used to fund state government.

They also say educational standards must be rigorous enough to meet the demands of business and industry.

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Deidre Myers, Deputy Secretary For Workforce Development, Oklahoma Department of Commerce.
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At Oklahoma State University’s annual Economic Outlook Conference Tuesday, industry professionals criticized low teacher pay, but forecasted continued job growth in education and several other jobs through 2015.

The Oklahoma Department of Commerce’s Deidre Myers wants employers to think outside of basic qualifications during the hiring process.

Myers questioned the value of requiring applicants to have specific majors like economics or finance when looking for jobs in the business field. She says most jobs require analytic and critical thinking skills…rather than an expertise in a narrowly defined field.