Oklahoma Revenues Drop for the 19th Straight Month
Joe Denoyer - October 6, 2016 3:52 pm
Oklahoma’s treasurer says state revenue fell again last month, continuing a 19-month decline in the broad measure of the state’s economic activity.
Treasurer Ken Miller said Thursday receipts to the state treasury in September dropped almost 10 percent compared to the same month last year.
September collections were $939 million. The last time September collections were lower was in 2010, when Oklahoma was only a few months past the revenue decline caused by the Great Recession. Miller says collections during the past 12 months total $10.9 billion and are the lowest monthly total since March 2012.
Miller says Oklahoma is still feeling the impact of low energy prices. Oklahoma’s unemployment rate in August was 5.1 percent, higher than the U.S. rate of 4.9 percent.