Oklahoma's Personal Income Dips In First Quarter Of 2015

Wednesday, June 24th 2015, 1:14 pm
By: News On 6

A federal report shows a dip in Oklahoma's personal income in the first quarter of 2015.

The report released by the U.S. Department of Commerce Bureau of Economic Analysis shows that the growth rate fell by a half percent in the state's personal income, while the rate increased nationwide by almost 1 percent.

The Enid News & Eagle reports that an earnings decline of 3.5 percent in the oil and gas industry impacted Oklahoma's personal income growth.

The state's unemployment rate was 4.1 percent in April 2015, after months of layoffs in the oil industry.

The mining industry continues to be a large contributor to the state's real gross domestic product growth. It accounts for almost 15 percent of the state's GDP.