OKLAHOMA STATE TREASURER
For Immediate Release: June 5, 2013
May Gross Receipts to the Treasury Show Steady Growth
OKLAHOMA CITY – Oklahoma’s economy continued to exhibit steady growth during
May, State Treasurer Ken Miller said today as he released the monthly gross receipts to the
For the first time in 18 months, gross production tax collections exceeded the same
month of prior year, climbing to $63.89 million in May. That is $790,000 or 1.2 percent above
May of last year. Starting almost two years ago, gross production collections began to drop,
hitting a trough in August 2012. Since then, collections have trended upwards.
Total collections for the month of $883.8 million reflected growth of 2.9 percent over
May of last year. That compares to an average growth rate of 2.3 percent during the past 12
Twelve-month collections now total $11.247 billion and are only about $36 million
below Oklahoma’s peak 12-month collections of $11.283 billion set in December 2008.
“Oklahoma’s economy continues to show improvement,” Miller said. “The increase in
gross production collections is most encouraging. Crossing the monthly collections threshold this
month is heartening as we have been observing general growth during the past several months.”
Income tax and sales tax collections rose during the month, up by 4.6 percent and 3.8
percent respectively from May of last year. Motor vehicle collections were below prior year
collections by 5.2 percent.
The state’s unemployment rate continues to reflect the strength of the Oklahoma
economy, Miller said. Oklahoma’s 4.9 percent April unemployment rate compares to a national
rate of 7.5 percent.
April unemployment in the Oklahoma City metro was set at 4.1 percent, down from 4.7
percent in March. It is the lowest jobless rate out of the nation’s 49 largest metropolitan areas, a
distinction held for the past 13 months.