Ada Jobs Foundation

Economic Report - September 2012

 

Economic Update  

 

The September sales tax deposit for the City of Ada exceeded $1.24 million, which is an increase of 5.4% from September 2011. The calendar year to date sales tax collection totals over $11 million and represents a growth rate of over 5.6% for the year. Sales tax revenue is continuing to increase and currently exceeds pre-recession year to date revenues. If revenues over the next three months maintain a growth rate of 2.5% from the previous year, the annual sales tax revenue will have exceeded the annual pre-recession revenue for the first time since 2008. 

 

The unemployment rate for Pontotoc County continues to remain below both the state and national unemployment rates. Pontotoc County has the 7th lowest unemployment rate in the state for counties with a labor force greater than 20,000 employees. Pontotoc County also has one of the lowest unemployment rates in the area with Pottawatomie, Coal, Hughes, Seminole, and Johnston counties all having higher unemployment rates. The size of the labor force in Pontotoc County reached an all time high in July 2012 and July marks the eleventh consecutive month that the labor force has exceeded 21,000. 

 

The Cost of Living results for the second quarter of 2012 indicated Ada has a composite score of 84.7, which means that its 15% cheaper to live in Ada than the national average. In comparison, Oklahoma City has an composite score of 89.6 and Tulsa is 88.8 for the quarter. Cost of living is an indicator of how much it costs to live, i.e. housing, food, utilities, clothing, medical treatment, and transportation in a particular location. This index showcases how a person could relocate to a community with a lower cost of living and be able to achieve a higher standard of living without increasing their salary. For example, if the average family in the US spends $5,000 a month on expenses, they would spend approximately $4,235 in Ada each month and approximately $4,940 each month in Dallas, TX (98.8). This means the average family that relocates from Dallas to Ada would be able to save over $700 each month on expenses just by relocating.  

Upcoming Events

 

Ada Area Job Fair Thursday, September 20, 2012

10:00 am - 2:00 pm

Pontotoc County Agri-Plex Convention Center

 

Employers interested in having a booth download registration form here. 

 

Job Seekers should arrive the day of the job fair prepared and dressed for an interview with plenty of resumes with them. 

 

 

Oklahoma Young Professionals Conference
Friday, September 21, 2012

8:30 am - 3:00 pm

Cox Convention Center - OKC

Registration $75.00

  

Join us as we equip young professionals to lead our state into the future by "Creating Oklahoma's Succession Plan." The urgency for the next generation to step up and prepare themselves for the future, as well as for companies to begin thinking about succession planning is crucial. At this conference you will be motivated by Lt. Governor Todd Lamb as he displays his confidence in our generation to lead Oklahoma into the future. 

  

For more information click here. Online Registration Available Here.  

 
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Economic Indicators

Unemployment Rate

(July 2012)

    Ada MSA -  4.5%

July 2011 - 5.4%

 

  Oklahoma -  4.9%

July 2011 - 6.2%

 

  United States -  8.3%
July 2011 - 9.1%  
  
Labor Force
(July 2012) 

  Ada MSA -  21,470

July 2011 - 20,330

 

  Oklahoma -  1,795,140

July 2011 - 1,766,090

 

  US - 155,013,000

July 2011 - 153,228,000

  

 

Sales Tax Report

(September 2012)

  City of Ada - $1,248,236
September 2011 - $1,184,024
 

   Pontotoc County - $287,293

September 2011 - $279,842

  
  
Use Tax Report
(September 2012) 
  City of Ada - $42,251
September  2011 - $43,720
 
Pontotoc County - $12,387
September 2011 - $17,692

  

  
Lodging Tax Report
(September 2012) 
   Pontotoc County - $19,371
September 2011 - $20,738