Oklahoma State University published today a new report on Oklahoma WorkTrends by the Center for the Future of Work. It is heralded as a comprehensive overview of workforce development and trends in Oklahoma. Covering both direct and indirect factors impacting workforce development like population, education, child care, poverty, incarceration rate and more.
The report includes data collected through the 2023 Voice of the Workforce study conducted by the Center for the Future of Work as well as other workforce data collected through various state and federal entities. The report then identifies areas of strength as well as areas of progress, continued focus and improvement as they pertain to workforce development in the state of Oklahoma.
Data highlights:
• With a continued focus on re-engaging individuals back into the workforce, Oklahoma’s labor force participation rate (62.5% in Q3 of 2023) is now higher than pre-pandemic levels and nearly meets the national rate (62.7%).
• Many respondents indicated that their company offers flexible work schedules (21.7%) and an additional 30.6% of respondents said flexibility is offered based on position.
• 30.2% of respondents stated they are extremely unlikely to leave their current position in the next six months, while only 12.1% stated they were extremely likely which may indicate that “the great resignation” has slowed in Oklahoma.
• 54% of respondents agreed that they often feel stressed at work, while 44% of respondents agreed that stress has, at times, impacted their ability to do their job well.
The full report is available online to read or download as you may like here.
Areas of progress in Oklahoma noted in the Executive Summary include:
Population growth: In 2023, Oklahoma experienced its highest population gain in a single year (0.85%) in more than a decade, with much of the growth attributed to domestic in-migration from other states.
Labor force participation rate: With a continued focus on re-engaging individuals back into the workforce, Oklahoma’s labor force participation rate (62.5% in Q3 of 2023) is now higher than pre-pandemic levels and nearly meets the national rate (62.7%).
Veteran workforce participation: Veterans make up 8.7% of adults in Oklahoma and veterans between the ages of 18-64 have an estimated labor force participation rate of 73.5%. In addition, veterans have higher median household incomes and 78.1% own their home. Veterans also experience lower poverty rates (7.6%) compared to the state average (15.7%).
Post-secondary education: High school graduation rates increased by 1.2% between 2017 and 2022, while those with no diploma (highest educational attainment varying from ninth to 12th grade) decreased by 10.1%. Post-secondary education increased for all levels including associate’s (7.2%), bachelor’s (13.3%) and graduate or professional degrees (18%) (p. 36).
Great to see we are, “moving on up” Oklahoma. Again, click here for the Oklahoma WorkTrends report.