Gross Receipts to the Treasury continued their downward trajectory for an 18th consecutive month in August as unemployment figures released late in the month show Oklahoma’s jobless numbers exceed the national rate for the first time in 13 years.
Reports released today by State Treasurer Ken Miller show gross receipts – which provide a broad view of state economic activity – were down by 4 percent in August compared to the same month of last year. Total collections during the past 12 months were off by more than 7 percent compared to the prior period, according to the reports.
The revenue news comes as the Oklahoma Employment Security Commission reports the state’s unemployment rate at 5 percent, one-tenth of one percentage point higher than the national rate of 4.9 percent in July. The last time Oklahoma’s jobless rate topped that of the nation was in August 2003.