OKLAHOMA STATE TREASURER
For Immediate Release: January 4, 2012
2011 Brought Improved Economic Health to Oklahoma
Economic doctors say 2012 looking even better
OKLAHOMA CITY – Oklahoma’s economy quickened the pace of its recovery during 2011,
State Treasurer Ken Miller said today as he released the state’s monthly gross receipts report.
“December was 11.1 percent better than the prior year, the fourth quarter was 10.5 percent
ahead of the final three months of 2010, and total year collections surpassed the previous year by 9.6
percent,” Miller said. “We saw healthy growth each month ranging from four to 16 percent with an
average at the double-digit mark.”
Miller said December was the fifth time in the past eight months that collections rose by more
than 10 percent over the prior year and marked the 22nd consecutive month of growth.
“Twelve-month collections now stand more than $1.3 billion higher than in February of 2010.
Since we hit the trough almost two years ago, more than 68 percent of the revenue lost from our peak
in December 2008 has been recovered,” he said.
Miller said sales tax collections indicate a happy holiday shopping season in Oklahoma.
December collections, reflecting sales between mid-November and mid-December, were $20.42
million or 6.3 percent higher than the last Christmas shopping season.
National and state-specific forecasts point toward continued economic improvement.
Recent Bureau of Labor Statistics data list Oklahoma with year-over-year employment growth
of three percent, surpassing all surrounding states. The closest competitor was Texas with growth of
A U.S. Chamber of Commerce report shows Oklahoma with the nation’s fourth lowest
unemployment rate, adding jobs 3.5 times faster than the national rate in 2011.
During the past 12 months, figures from the Oklahoma Employment Security Commission and
Bureau of Labor Statistics show the number of jobs grew by almost 16,500, while the labor force grew
by just more than 3,000. During that time, the unemployment rate dropped from 6.9 percent to 6.1