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Oklahoma regains some economic ground lost during recession
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Oklahoma regains some economic ground lost during recession

Oklahoma regains some economic ground lost during recession

Oklahoma regains some economic ground lost during recession

Twelve-month gross receipts to the Oklahoma treasury are at an all-time high.

State Treasurer Ken Miller says that surpasses the previous record high set in December 2008.

Miller says gross receipts for the past 12 months total $11.3 billion and are $12.6 million, or 0.1 percent, above the previous record high.

“By at least this one measure, Oklahoma has regained and moved past the ground it lost during the Great Recession,” Miller said. “The revenue recovery – from peak to peak – took four years and seven months.”

The biggest increases come from gross production and motor vehicle tax collections.

Tax leaders say the recovery from the May tornadoes helped with rises in the retail construction materials and auto sales sectors.

Oklahoma’s employment picture remains better than the national average.

June state unemployment was set at 5.1 percent, compared to the U.S. rate of 7.6 percent for the same month.

Miller says, “Broad economic indicators such as home construction, capital stock and investment, and inflation-adjusted income, are pointing toward increased growth, but threats remain.”

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