Oklahoma's 2013 Economic Outlook


Uploaded by OklahomaHorizonTV on 04.01.2013

Transcript:
ROB MCCLENDON: 2013 COULD BE MORE OF THE SAME IN TERMS OF OKLAHOMA'S
ECONOMY, WHICH ISN'T NECESSARILY A BAD THING, THAT ACCORDING TO SOME
LEADING ECONOMISTS AT THIS YEAR'S ECONOMIC OUTLOOK CONFERENCE.
ROB MCCLENDON: 2012 WAS A GOOD YEAR IN OKLAHOMA.
EMPLOYMENT GREW BY TWO AND A HALF PERCENT, WHILE OKLAHOMA CITY BOASTED ONE
OF THE LOWEST UNEMPLOYMENT RATES IN THE NATION.
MEDIAN HOUSEHOLD INCOMES ROSE FOR THE YEAR, AND INDUSTRIES HIT HARDEST BY
THE NATIONAL RECESSION BEGAN TO BOUNCE BACK.
CHAD WILKERSON: THE HOUSING SECTOR IN PARTICULAR IS GROWING
RAPIDLY NOW, FINALLY, AFTER FIVE YEARS OF DECLINING OR SLUGGISH
ACTIVITY.
EVEN GROWING FASTER THAN ECONOMISTS EXPECTED, I THINK, IN 2012.
AND THERE'S NEVER BEEN A RECESSION WHILE HOUSING ACTIVITY IS GROWING.
SO THAT'S A POSITIVE SIGN.
ROB: AND ONE THE FEDERAL RESERVE BANK'S CHAD WILKERSON AND OTHER
ECONOMISTS AT THIS YEARS ECONOMIC OUTLOOK CONFERENCE SAY COULD
CONTINUE INTO 2013, IF ONLY SLIGHTLY OFF FROM 2012'S RAPID RISE OUT OF
THE RECESSION.
DAN RICKMAN: BUT THE GROWTH IS NOT NECESSARILY GOING TO BE AS STRONG AS
IT WAS LAST YEAR BECAUSE WE HAVE SEEM TO HAVE PEAKED IN ENERGY
EMPLOYMENT OVER THE SUMMER.
ROB: DAN RICKMAN IS WITH OSU'S SPEARS SCHOOL OF BUSINESS AND SAYS OKLAHOMA
COULD ADD OVER 26 THOUSAND JOBS IN THE COMING YEAR WITH THE STRONGEST GROWTH
IN PROFESSIONAL AND BUSINESS SERVICES, FOLLOWED BY CONSTRUCTION.
OTHER JOB GROWTH AREAS IN 2013 ARE STATE AND LOCAL GOVERNMENT, LEISURE AND
HOSPITALITY, AND THE WHOLESALE TRADE.
AND WHILE OKLAHOMA'S ENERGY SECTOR PROPELLED OUR ECONOMY IN 2012; THIS
YEAR, WE COULD SEE A SLOWING IN THAT GROWTH, EVEN A SLIGHT CONSTRICTION
IN JOBS, DEPENDENT UPON WHETHER NATURAL GAS PRICES REBOUND THIS WINTER, AND
OIL PRICES CONTINUE TO MODERATE.
RICKMAN: WE ARE TIED INTO THE NATIONAL AND WORLD ECONOMIES, AND OBVIOUSLY
THE ENERGY SECTOR ITSELF IS TIED INTO OVERALL DEMAND CONDITIONS.
ROB: AND WHILE OKLAHOMA'S OVERALL ECONOMY REMAINS STRONG, THE ECONOMISTS
GATHERED HERE BELIEVE MORE ATTENTION NEEDS TO BE FOCUSED ON LONG TERM
FUNDAMENTALS THAT SUPPORT CONTINUED GROWTH.
RICKMAN: EDUCATION IS GOING TO BE THE KEY TO OUR LONG TERM GROWTH,
PARTICULARLY EDUCATION IN KEY OCCUPATIONS.
YOU KNOW THE SCIENCE AND TECHNOLOGY AND ENGINEERING MANAGEMENT OCCUPATIONS.
ROB: STEPHEN MCKEEVER IS OKLAHOMA'S SECRETARY OF TECHNOLOGY.
STEPHEN MCKEEVER: THE NECESSITY FOR AN EDUCATED WORKFORCE CAN'T BE
OVERSTATED.
MANY OF THE INDUSTRIES, INDEED MOST OF THE INDUSTRIES FOR OKLAHOMA
ARE SCIENCE AND TECHNOLOGY BASED INDUSTRIES.
SO THEY NEED THAT EDUCATED WORKFORCE TO SURVIVE.
THE MORE THAT WE CAN HAVE IN THAT WORKFORCE, EDUCATED IN THE RIGHT WAY,
TRAINED IN THE RIGHT WAY, THE MORE WE CAN PROTECT OURSELVES.
ROB: IN AN EVER CHANGING WORLD.