The Norman Transcript

August 21, 2013

State jobless rate still low


The Norman Transcript

NORMAN — Unemployment in Oklahoma remains relatively low compared to most of the nation.

But the state showed some signs of job loss in July, an Oklahoma Employment Security Commission report showed Monday.

The state rate of 5.3 percent compares to 5.2 percent in July 2012. Nationwide, the unemployment rate stood at 7.4 percent for July, down slightly from the month earlier.

Oklahoma fared better than most states in the great Recession that began in 2008. We’ve never had the dramatic rise and fall in real estate values, so lenders weren’t overextended when prices turned down.

July’s report marked the third straight months of rising jobless rates for Oklahoma. Oilfield, construction and manufacturing jobs declined in July.