Tag: economic recovery

Revenue forecast confirms need for caution

On Tuesday, the Board of Equalization certified a preliminary estimate of the revenues available for next year’s budget. The numbers confirm that while the worst of the fiscal crisis is over, the state is experiencing a slow, incomplete recovery that… Read more [More...]

Interview with Chad Wilkerson: Oklahoma economy still looking 'pretty solid'

Continuing high unemployment rates, weak economic growth, and stock market volatility are all contributing to concern and uncertainty about the national economy. But how’s Oklahoma faring in these turbulent times? I recently spoke with Chad Wilkerson, the Oklahoma City Branch… Read more [More...]

No recovery yet for low- and moderate-income populations

Despite a modest recovery in the overall economy, a new study from the Federal Reserve Bank of Kansas City finds that low- and moderate-income populations continue to face increased hardship in Oklahoma and other states in the Tenth Federal Reserve… Read more [More...]

Preliminary FY 2013 budget outlook shows continued challenges ahead

Oklahoma’s fiscal situation presents an apparent paradox. We have now seen state tax collections rise for five consecutive quarters and exceed prior year collections by 10.5 percent. At the same time, the state budget is still being cut. This year’s… Read more [More...]

Up or down?

The Office of State Finance today released General Revenue collections for July, the first month of FY ’12. Total collections were $385.0 million, which was $14.9 million, or 4.0 percent above July 2010, and $17.0 million, or 4.6 percent, above… Read more [More...]

Labor force data casts doubt on real strength of Oklahoma’s recovery

June’s jobs report saw Oklahoma’s unemployment rate hold steady at 5.3 percent, the fifth lowest rate in the nation. But the Bureau of Labor Statistics’ household employment survey showed that the number of employed Oklahomans declined by 6,900. To try… Read more [More...]

Revenue collections finish strong year – but still face a steep upward climb

State Finance Director Preston Doerflinger yesterday announced that June General Revenue (GR) collections came in $78.1 million, or 15.7 percent, above last year and $66.2 million, or 13.0 percent, above the official certified estimate. The June collections brought to an… Read more [More...]

Quick Take: Revenues rebounding – – except for the income tax

The latest monthly report of General Revenue (GR) collections announced by Treasurer Ken Miller provided the strongest indications yet that state revenues are on a firm path to recovery. For the 11th time in the past 12 months, monthly revenue… Read more [More...]

An economic forecast from Mark Zandi

The first part of this week I am attending the annual State Fiscal Policy Conference organized by the Center on Budget and Policy Priorities. While most of the conference sessions focus on the fiscal challenges facing state governments – and… Read more [More...]

Not a pretty picture: National outlook for state budgets looks a lot like Oklahoma's

We’re nowhere close to being out of the woods. That’s been our message of late on the state’s budget outlook (you can take a look here at our blog post analyzing of the most recent monthly revenue collections and here… Read more [More...]