AJF News

October Economic Report

10/14/2011 by Ada Jobs
Tags: Economic Report

The first half of 2011 have been a time of recovery and rebuilding nationwide. The City of Ada and the State of Oklahoma were fortunate to never have experienced unemployment in the double-digits during the height of the recession. The August 2011 unemployment rate for the Ada MSA decreased to 4.3%. The July 2011 rate was 5.1% and the August 2010 rate was 5.3%. Over the past year the size of the area's labor force has continued to increase by approximately 200 people. This means that 400 more people are employed in the Ada area than this time in 2010. 

Sales tax revenue, which funds city services such as fire and police, has remained relatively flat. October revenue increased slightly, 2.2%, from 2010. The calendar year-to-date revenues have only increased by 0.7% from this time last year. As you begin your holiday shopping, remember to shop locally so your sales tax dollars benefit you through improved city services. 

Compared with the rest of the country, Ada's cost of living continues to decrease. Ada's index for the second quarter of 2011 was 88.8, which is a decrease from the first quarter 2011, 90.3. When compared with the other nine Oklahoma communities that participate, Ada is the fourth lowest in the state. Additionally, when compared with all 311 communities that participate nationwide, Ada was in the lowest 11% of communities. 

The low cost of living and available jobs contribute to making the State of Oklahoma and the City of Ada an ideal place to live and work.