Governor Kevin Stitt declares Oklahoma is ‘open for business’ as unemployment rate drops to nation’s third-lowest
Oklahoma City –- New figures released Friday (November 19) by the U.S. Bureau of Labor Statistics show that Oklahoma’s October 2021 unemployment rate has declined to 2.7% and is the third-lowest in the nation.
Additionally, Oklahoma’s current unemployment rate is the lowest it has been since the Bureau of Labor Statistics started using the current method of measuring unemployment in 1976, beating the previous low of 2.9% in December 2000. In a statement sent to CapitolBeatOK.com and other news organizations, Oklahoma Governor Kevin Stitt said, “The lowest unemployment rate in decades is another testament that Oklahoma is open for business and our economy is strong. “While low unemployment is great news, we must continue to expand and train Oklahoma’s workforce so businesses will remain able to attract the employees they need, and our economy can continue to grow. ”Oklahoma Employment Security Commission Executive Director Shelley Zumwalt echoed the governor’s sentiments and said her agency is focused on continuing workforce development efforts.
“Oklahoma is headed in the right direction and through strategic decisions and hard work we are recovering faster than almost all other states in the nation,” said Zumwalt. “Having the lowest unemployment rate since 1976 only makes OESC more motivated to ensure every business and citizen in our state sees a full recovery from the pandemic.”
Oklahoma’s unemployment rate declined from 3.0% in the September report and is at least a full point better than all surrounding states.