STATE EMPLOYERS PLAN TO HIRE IN 2004 ACCORDING TO STATEWIDE BUSINESS SURVEY

OKLAHOMA CITY – Oklahoma employers planning a change to their workforce will be twice as likely to hire employees in 2004 as to let them go according to a new survey published by the Oklahoma Employment Security Commission’s Economic Research & Analysis Division. The information provided by the 1,434 businesses that participated in the 2004 Employers Workforce Size Expectations Survey gives a glimpse into the state’s job situation for this year.

Respondents were asked whether they expect to increase, decrease or make no change to the size of their workforce in 2004. Overall, the findings point to stability in workforce size.  More than 80 percent of employers indicated that they expect no change to the size of their workforce.  Of the businesses that expect change, over two-thirds plan to add jobs in the coming year. 

Some variation in expectations exists according to the size of the firm. Businesses with fewer than five employees are most likely to keep their workforce the same in 2004, with 88 percent planning no change.  The greatest changes are expected among employers with between 50 and 249 employees. Over one-third of these employers expect to add positions. In addition, almost one-quarter of the largest employers surveyed (those with 250 or more employees) plan to add jobs in the coming year.

To be sure, anticipated gains are small. Half of all employers who plan to add jobs only plan to add one or two.  Fortunately, job losses are expected to be even smaller.  On the whole, employers in this survey plan to add 2,095 jobs and eliminate 682, leaving an expected net gain of 1,413 new jobs in 2004.

According to OESC Managing Economist Lynn Gray, these gains, no matter how small, signal much need improvement. “While the survey results do not suggest great strength in the state’s labor market for 2004, it at least offers some hope,” he says. “If these expectations become reality, it means that the current three year decline in Oklahoma’s employment numbers will end, and we will see some much needed economic recovery, at least in parts of the state.”

The mission of the OESC Economic Research & Analysis division is to develop, analyze and manage a comprehensive database of state and local labor market information.  Our Labor Market Information Unit strives to produce a variety of information that meet the needs of our customers. It is our goal that all information released is accurate, timely and of the utmost quality.  All publications and information are available to the public at no cost.