Petroleum Accountants Society 3264

8/4/2019 Petroleum Accountants Society 3264

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OK LAHOMA IS:READY

Presented by:

Deidre D. Myers

Policy, Research and Economic Analysis


2/23

Economic Outlook

Effects of Great Recession

2011 Projections

Industry

Occupation

Trends

Population

WorkforceWealth


3/23

Effect of Great Recession

-100

-80

-60

-40

-20

0

20

40

Total

Employment

Mining Construction Manufacturing Trade, Trans &

Utilities

Prof & Bus

Services

Ed & Health

Services

Jobs,

inth

ousands

Change over Recession Yet to Recover

Source: BLS, Total non farm employment


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Employment Index

Source: BLS, Total non farm employment

96

98

100

102

104

106

108

110

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Index:Janu

ary

2000

=

100

Recession OK US


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Unemployment Rate

Source: BLS, LAUS and CPS

0

1

2

3

4

5

6

7

8

9

10

11

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Percent

Recession OK US


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Labor Force

1650000

1670000

1690000

1710000

1730000

1750000

1770000

1790000

1810000

1830000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Avg Labor Force Potential Labor Force

Source: BLS, LAUS and CPS


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Employment by Type

0

2

4

6

8

10

12

14

16

18

0

10

20

30

40

50

60

70

80

90

Total Men Women White White

Men

White

Women

Black Black Men Black

Women

Hispanic Hispanic

Men

Hispanic

Women

2009 % of Population Employed 2009 Unemployment Rate

Source: BLS


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Unemployment Rate by Education

Source: BLS, LAUS

0 2 4 6 8 10 12 14 16

Less than HS

High School

Some college

Associate

Bachelor's

Master's

Professional

Doctoral

2009 Unemployment Rate


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Economic Outlook


2011 Projections

Industry

Occupation

Trends

Population

WorkforceWealth


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2011 State Industry ProjectionsIndustry 2010 Jobs 2011 Jobs Change % Change

Agriculture, Forestry, Fishing and Hunting 97,605 97,049 -556 -1%

Mining, Quarrying, and Oil and Gas Extraction 120,533 128,692 8,159 7%

Utilities 11,801 11,967 166 1%Construction 122,039 124,588 2,549 2%

Manufacturing 130,171 130,173 2 0%

Wholesale Trade 61,972 62,309 337 1%

Retail Trade 209,040 209,353 313 0%

Transportation and Warehousing 64,749 65,228 479 1%

Information 31,719 31,520 -199 -1%

Finance and Insurance 99,010 101,993 2,983 3%

Real Estate and Rental and Leasing 71,087 73,417 2,330 3%

Professional, Scientific, and Technical Services 101,944 105,071 3,127 3%

Management of Companies and Enterprises 14,551 14,616 65 0%

Administrative and Support and Waste Management 124,846 127,832 2,986 2%

Educational Services 27,398 28,218 820 3%

Health Care and Social Assistance 210,764 215,750 4,986 2%Arts, Entertainment, and Recreation 29,715 30,746 1,031 3%

Accommodation and Food Services 137,582 140,496 2,914 2%

Other Services (except Public Administration) 99,197 100,331 1,134 1%

Government 365,372 369,445 4,073 1%

Total 2,131,093 2,168,797 37,704 2%

Source: EMSI Complete Employment - 4th Quarter 2010


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2011 Projections for Oil & Gas


Description

2010

Jobs

2011

Jobs Change

%

Change

% of

Industry

2010

Median

Hourly

Earnings

Managers, all other 21,276 23,019 1,743 8% 24% $20.61

Property, real estate, and community

association managers 9,454 10,212 758 8% 11% $13.41

First-line supervisors/managers of construction

trades and extraction workers 8,110 8,744 634 8% 9% $22.56

General and operations managers 4,296 4,575 279 6% 5% $30.99

Bookkeeping, accounting, and auditing clerks 3,422 3,652 230 7% 4% $13.51

Petroleum pump system operators, refinery

operators, and gaugers 3,305 3,516 211 6% 4% $22.99

Helpers, extraction workers 3,281 3,546 265 8% 4% $24.49Geological and petroleum technicians 3,235 3,468 233 7% 4% $21.67

Roustabouts, oil and gas 3,175 3,370 195 6% 4% $18.46

Title examiners, abstractors, and searchers 2,565 2,760 195 8% 3% $23.25


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2011 State Occupation Projections


Occupation 2010 Jobs 2011 Jobs Change % Change Openings

Management occupations 250,871 256,093 5,222 2% 10,719

Business and financial operations occupations 94,736 97,439 2,703 3% 4,609

Computer and mathematical science occupations 29,029 29,430 401 1% 1,036

Architecture and engineering occupations 26,394 26,952 558 2% 1,214

Life, physical, and social science occupations 18,395 19,097 702 4% 1,295

Community and social services occupations 30,884 31,390 506 2% 1,215

Legal occupations 19,326 19,797 471 2% 802

Education, training, and library occupations 108,826 111,264 2,438 2% 4,842

Arts, design, entertainment, sports, and media occupations 43,528 44,460 932 2% 2,048

Healthcare practitioners and technical occupations 97,237 99,703 2,466 3% 4,605

Healthcare support occupations 51,043 52,278 1,235 2% 1,908Protective service occupations 39,947 40,925 978 2% 2,100

Food preparation and serving related occupations 136,174 138,724 2,550 2% 7,383

Building and grounds cleaning and maintenance occupations 66,473 67,664 1,191 2% 2,363

Personal care and service occupations 66,520 68,211 1,691 3% 3,516

Sales and related occupations 245,983 248,986 3,003 1% 10,886

Office and administrative support occupations 286,871 290,797 3,926 1% 10,379

Farming, fishing, and forestry occupations 14,859 14,891 32 0% 602Construction and extraction occupations 139,207 143,576 4,369 3% 6,910

Installation, maintenance, and repair occupations 81,349 82,065 716 1% 2,873

Production occupations 124,868 125,646 778 1% 4,748

Transportation and material moving occupations 119,127 120,084 957 1% 4,533

Military Occupations 39,445 39,324 -121 0% 896

Total 2,131,093 2,168,797 37,704 2% 91,482


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2011 Projections for Accountants


Region 2010 Jobs 2011 Jobs Change % Change Openings2010 Median

Hourly Earnings

State of Oklahoma 20,647 21,247 600 3% 951 $19.68

Nation 1,499,870 1,540,240 40,370 3% 65,958 $23.64

State of Texas 124,188 129,294 5,106 4% 7,206 $23.24

State of Louisiana 17,002 17,364 362 2% 708 $19.60

State of New Mexico 8,073 8,284 211 3% 348 $20.90

State of Missouri 31,318 31,731 413 1% 1,003 $21.58

State of Kansas 15,274 15,765 491 3% 750 $20.49

State of Arkansas 8,420 8,686 266 3% 410 $17.84


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Economic Outlook


2011 Projections

Industry

Occupation

Trends

Population

WorkforceWealth


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US Population Growth


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OK Population Growth


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Educational Attainment

Source: EMSI

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Less Than 9th

Grade

9th Grade to 12th

Grade

High School

Diploma

Some College Associate's

Degree

Bachelor's

Degree

Graduate Degree

and Higher

2010 Population 2020 Population


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Higher Education


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Less than High School Education


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OK Per Capita Personal Income

Source: BEA, Regional Accounts, CA1-3 - Per capita personal income, percent of US

60

70

80

90

100

110

120

1969 1972 1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008

PerCapitalPersonalIncome

Oklahoma state total Oklahoma Nonmetropolitan Portion Oklahoma Metropolitan Portion


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OK Average Wage


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OK Median Household Income


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For more information:

Email: [email protected]

Twitter: @DeidreDMyers
mailto:[email protected]:[email protected]

Documents

Petroleum Accountants Society 3264