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Oklahoma Treasurer Reports Revenue Collection Growth Slowing

State of Oklahoma

OKLAHOMA CITY (AP) — Oklahoma Treasurer Randy McDaniel says overall collections to the state treasury grew last month, but he says the growth is slowing, mostly due to a decline in oilfield activity.

McDaniel reported overall collections to the treasury in September totaled $1.16 billion, an increase of less than 1% from the same month last year. McDaniel says it the smallest amount of growth in 30 months.

Year-over-year collections on oil and gas production were down nearly 30%, reflecting a drop in oil prices over the last year of close to 20%.

Meanwhile, figures from the Oklahoma Employment Security Commission shows Oklahoma's 3.2% seasonally adjusted unemployment rate remains below the national jobless rate of 3.7%.