Monday, July 20, 2020

June unemployment declines by half, moves Oklahoma to 5th lowest rate in nation


OKLAHOMA JUNE UNEMPLOYMENT RATE DECLINES SIGNIFICANTLY, TIED FOR FIFTH LOWEST NATIONALLY

OKLAHOMA CITY (July 20, 2020) – New figures released by the Oklahoma Employment Security Commission and the U.S. Department of Labor show Oklahoma’s seasonally adjusted unemployment rate declined to 6.6% in June, a significant decrease from 12.6% in May. Oklahoma is tied with Maine for the fifth lowest rate in the country, a ranking which is reflected on the newly-launched Governor’s Dashboard of Metrics. The national unemployment rate for June declined to 11.1%.

“These figures confirm that Oklahoma is leading the way in our recovery from COVID-19,” said Governor Kevin Stitt. “Innovative programs like the Oklahoma Business Relief Program, the Oklahoma Manufacturing Reboot Program and others have allowed us to leverage federal CARES Act funds to support our businesses and get their employees back to work so they can support their families.”


In June, statewide seasonally adjusted employment increased by 56,409 persons (3.5%), while unemployment decreased by 113,643 persons (-49.4%) from the previous month.

“We appreciate the leadership and partnership of Governor Stitt and state leaders to protect the health and lives of Oklahomans while mitigating the impact of COVID-19 to our economy,” said Shelley Zumwalt, OESC interim executive director. “We still have a long way to go, but it is encouraging for us to be in this position as we continue to work diligently to get Oklahomans back to work safely.”

Oklahoma currently has the lowest unemployment rate in comparison to surrounding states, including Texas, Arkansas and Kansas.

Surrounding States Unemployment Rates for June 2020 (National Rank):
Arkansas: 8.0% (16)
Colorado: 10.5% (35)
Kansas: 7.5% (T-10)
Missouri: 7.9% (15)
New Mexico: 8.3% (19)
Texas: 8.6% (T-22)

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