Oklahoma State University’s Center for Applied Economic Research in the Spears School of Business will present the 2013 Oklahoma Economic Outlook Conference on Dec. 5 at the Metro Technology Center Springlake Campus in Oklahoma City.
The conference will run from 8:30 a.m. to noon.
“While the housing sector finally shows signs of recovery, the U.S. economy faces significant headwinds,” said Dan Rickman, OSU Regents professor of economics and Oklahoma Gas & Electric Services Chair in Regional Economic Analysis, who will be one of the featured speakers at the conference.
“The impending ‘fiscal cliff’ and slowing global demand pose significant threats to near-term economic growth. How these events most likely will unfold and affect the U.S. and Oklahoma economies will be addressed during the 2013 OSU Economic Outlook Conference. The conference also will include presentations on how Oklahoma can best position itself for long-term economic prosperity,” said Rickman.
The state of Oklahoma has bounced back from the recent recession much better than many other states and that growth is expected to continue throughout the next 12 months, Oklahoma State University economist Dan Rickman said Tuesday during the 2012 Oklahoma Economic Outlook Conference.
Rickman and Mouhcine Guettabi, a research economist, were the two representatives from the Center for Applied Economic Research from OSU’s Spears School of Business speaking at the conference that included discussions of national economic conditions and prospects for Oklahoma.
“We’ve had very strong growth coming out of the recent recession, more than we’ve seen in other states, and we expect that to continue into 2012,” said Rickman, OSU’s Regents Professor of Economics and Oklahoma Gas and Electric Services Chair in Regional Economic Analysis.
Oklahoma ranked 23rd of all the states in wage and salary growth from 2001 to 2007, growing at a rate of 4.6 percent. The state moved up to eighth overall from 2007 to 2010, despite seeing a loss of 2.2 percent during the recession (only North Dakota at 4.6 percent and Alaska at 1.7 percent saw growth during this period).
Rickman expects Oklahoma’s employment growth in 2012 to continue to grow at a better rate than the nationwide average – 2.77 percent in Oklahoma to just below 2.0 percent for the United States.
The key to the state’s growth is its dependence on the energy sector, said Rickman, who believes that 2013 could be the key year for major growth in Oklahoma as the demand for oil increases across the world.
“In 2013, we’ll see energy prices start to become stronger,” said Rickman, who used data provided by HIS Global Insight Forecast. “In 2013, they’re expecting the national economy to become stronger and they see that driving energy prices higher. As far as we’re concerned (in Oklahoma), as long as our national economy is weak and sputtering, energy prices are going to be susceptible.”
Guettabi was one of the other featured speakers throughout the event held at the Metro Technology Centers at Springlake Campus in Oklahoma City. The Spears School research economist presented a long-term look at the population growth for Oklahoma.
Other speakers included Deidre D. Myers, director, Research & Economic Analysis, Oklahoma Department of Commerce; Cynthia Rogers, associate professor of economics, University of Oklahoma; Mickey Hepner, Dean, College of Business Administration, University of Central Oklahoma, and Chad Wilkerson, vice president, Branch Executive and Economist, Federal Reserve Bank of Kansas City, Oklahoma City Branch.
State Treasurer Ken Miller was among those attending the conference. “I thoroughly enjoyed it because there was a lot of great information shared today,” Miller said.
To view the information provided by each of the presenters on the web, go to economy.okstate.edu/forecasts
Sponsors of Tuesday’s conference were the Center for Applied Economic Research (CAER) at the Spears School of Business, CareerTech, Metro Technology Centers, and OSU’s Center for Executive and Professional Development.
With the national unemployment rate at 9.1 percent, the American Jobs Act was introduced as a method of creating jobs. The question for many is how the bill is going to impact the state of Oklahoma and, more importantly, the lives of Oklahomans.
Mouhcine Guettabi, research economist with the Center for Applied Economic Research for OSU’s Spears School of Business, has studied extensively the American Jobs Act, and recently discussed the impact it may have on the economy.
This article originally appeared in the Tulsa World. Read the original article.
Oklahoma’s jobless rate dropped to 6.6 percent in January – the lowest since May 2009, according to data released Thursday by the Oklahoma Employment Security Commission and the U.S. Bureau of Labor Statistics.
January’s rate was down from a 6.8 percent reading in December.
According to revised data, Oklahoma’s rate hovered at a high of 7.3 percent from December 2009 through March 2010 but has trended downward since then.
“Overall this is a good report and when combined with the newly revised 2010 numbers shows a labor market that is beginning to recover,” said Lynn Gray, the OESC’s chief economist, in e-mailed comments. Continue Reading