Oil and Gas Layoffs Contribute to Oklahoma’s Growth in Unemployment

oilfieldworkers1Jobless rates for June in Oklahoma showed more growth in 65 of the state’s 77 counties with the oil and gas industry contributing, according to a county-by-county breakdown provided by the Oklahoma Employment Security Commission.

The rates were higher than a year ago but dropped in 10 counties and remained unchanged in 2 counties. Stephens county in southern Oklahoma had the highest unemployment rate with 10.8% followed by Latimer county at 10.1% and McIntosh County at 9.5%

Those with the lowest rates are areas where there remains oil and gas activity. Grant County is lowest at 3.3% followed by Cimarron County at 3.4% and Alfalfa County at 3.6%.

Oklahoma City’s figures in the Mining and Logging sector, where the oil and gas industry is included showed a drop of 18.3% from June 2015 to June 2016. Employment went by 18,600 in June of last year to 15,200 in June 2016. The drop included at least 100 oil and gas workers from May to June of this year.

Tulsa recorded an 11.4% drop from June to June as its oil and gas sector dropped from 7,000 in June of last year to 6,200 this year. Like Oklahoma City, the May to June drop totaled 100 workers.

The oilfield losses around Lawton totaled only 100 over the past year. The June-to-June drop totaled 5.6% as employment went from 1,800 in June 2015 to 1,700 in June 2016.

Listen to comments from Monty Evans, Senior Economist at Employment Security Commission.

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