Tight labor markets have begun to take their toll on economic growth in Oklahoma.
Businesses increasingly report difficulties in finding qualified workers.
Combined with a projected national economic slowdown caused by increases in interest rates over the last year, growth is expected to continue to slow in Oklahoma into the next year. According to preliminary Bureau of Labor Statistics data, Oklahoma total nonagricultural employment was 2.3 percent higher in May 2000 than one year earlier. Over the same period, however, U.S. employment grew 2.6 percent. Yet the current growth in Oklahoma employment is an increase over the estimated 1.4 percent employment growth reported for 1999. May. Strongest growth is occurring in Construction, Services, and the Federal Government.