The unemployment rate rose in the state of Oklahoma during the month of July this year. The increase was a modest 0.2%. The number of unemployed rose to almost five percent, at 4.7%. It was however below the national unemployment rate by three percent (Miller, 2). The total number of Oklahoma population who did not have a job was 87,820, up by 2,860. Areas that had the largest losses were those in business and service sectors of the economy, and their total decline was about five thousand jobs. Other smaller losses were in the financial and entertainment sector at 300 and 600 respectively. Certain sectors however had quite significant increase in employment. These sectors included the health and education sectors which added a total of 2,600 jobs (Miller, 4).
The rate of unemployment in Oklahoma State is low when compared to other States in United States. This paper seeks to explain some of the reasons behind the low rate of unemployment in Oklahoma since the year 2011 to date.
The rate of unemployment in Oklahoma State is one of the lowest in the whole country since 2011. It is lower than all the other states that share boundaries with Oklahoma (State Impact, 2). The reason could be explained by this; even though there are a number of sectors that have lain off people, there are still others that continue to hire in this state. Apart from the education and healthcare sector, the other that stands out is the commercial transporters who use trucks (State Impact, 5).
Some other sectors have also contributed to this lower unemployment rate in Oklahoma. Some of the jobs which include customer care representatives are not seen as menial. More people are seeking for them and employers have become more selective. They are demanding for people with higher levels of qualifications which was not the case before. In the mining and industrial sector there has been an increase in exploration activities. Some manufacturers have also opted to begin operating from this state. All these increases the employment opportunities available in this state (Miller, 12).
The manufacturing sector makes up a large portion of the total number of people who are employed in this state. The figure is approximately 8.3% of all the people employed in Oklahoma. It is higher than certain areas in America and not far below than those areas with substantial amounts of manufacturing industries. Although the number of people employed in the manufacturing industries reduced to 12% in the last decade .The sector still accounts for a fifth of the total number of new jobs in Oklahoma. In many parts of Oklahoma, the rate of unemployment is smaller than the average rate of the whole nation at 7.8%.The only ones above the above the national average are four in number(Wilkerson, 1). They are all found at the southeasterly corner of the state. Unemployment rates are lower at the northwesterly points and central areas of the state. There are two long-term factors which have contributed to these low rates. One being the difference in the levels at which individuals migrate in search of employment opportunities. The other reason is the change in the drilling of energy from gas to the drilling of oil for the last one year. This has given rise to many employment opportunities (Wilkerson, 4).
In conclusion, since the financial crisis of 2009 many countries in the developed world have had diminishing employment opportunities. America has not been left out, and there has been an increase in the number of people without jobs and those looking for jobs. There were 12.7 million people who were looking for work by May 2012. This does not include the many others who have stopped searching for any openings. Even though, the situation has improved since then, going down by about one percent. The people who are unemployed are still more when compared with the beginning of Europe’s financial crises. Some states like Oklahoma which have an advantage in the set up of their economy are still able to maintain low levels of unemployment.