Ada Jobs Foundation

Economic Report - November 2012

 

Ada Jobs Foundation Report  

  

In September the Ada Area Labor Force rose to an ALL TIME high of 21,618 and the unemployment rate dropped to 4.1%. This marks eleven straight months with the size of labor force exceeding 21,000. The labor force has grown by nearly 1,000 new employees since September 2011, while the number of unemployed workers has continued to decline. These figures indicate nearly 1,100 new jobs have been created in the past year in the Ada area. 

 

The November sales tax deposit for the City of Ada reached a record ALL TIME high at $1.378 million. Based of previous years' data and estimated projections, the sales tax collections for calendar year 2012 will increase by 6% from the previous year. Projections also indicate that the calendar year sales tax for the City of Ada should exceed pre-recession (2008) levels.

 

Third Quarter 2012 Cost of Living statistics were released and Ada's composite index is 85.3. Ada continues to have one of the lowest cost of living indexes for the State of Oklahoma. This indicates that a dollar goes further in Ada, than in other parts of the state and country. Currently the average wage for the Ada Labor Market Area is $16.53 an hour, which is higher than the average wages of the Durant, McAlester, and Shawnee Labor Market Areas. Our area economy continues to look positive and more growth is projected for the future.

Upcoming Events
 

Workers' Compensation Issues Forum

Friday, November 16, 2012

2:00 pm - 3:30 pm

Ada Public Library - 124 Rennie Street

Join Denise Engle, Deputy Commissioner of Workers' Compensation, to discuss the state of workers' compensation in Oklahoma. For more information contact, Brant Cale, 405 522-4066 or [email protected].

 

Annual Community Thanksgiving Dinner

Monday, November 19, 2012

5:00 - 8:00 pm

Pontotoc County Agri-Plex

East Central University Human Resources Club will be hosting a community Thanksgiving Dinner from 5-8 pm at the Pontotoc County Agri-Plex. The dinner is free and turkey, ham, mashed potatoes, gravy, vegetables, rolls, and dessert will be served. For more information or to volunteer, call 580 559-5435. For more information click here. 

 

Leadership YOUniversity is Now Accepting Applications

Leadership YOUniversity is a program conducted by the Ada Area Chamber of Commerce. This six class series will give you or your employees the opportunity to develop valuable skills training in a variety of areas such as: networking, customer service, personality traits, generational differences, public speaking and team building. The cost is $495/person. Call 580.332.2506 to apply NOW!! The class size is limited, and the program will start in January 2013. Download the application here.  

  

Why I Shop Local 

 

The holiday season is upon us and that means it is time to do a lot of SHOPPING! We have gifts, decorations, and lots of other stuff to buy to be ready for all the festivities associated with the end of the year. Most of us think about how much money we are spending this time of year, but do we ever consider where we spend our money and how that decision affects us the rest of the year?

 

I know it's tempting to make a mad dash to other communities to complete all your holiday shopping, but once you consider what happens to your money once it leaves your hands, you quickly realize that you shouldn't give into that temptation. I shop locally because I can see the benefit each and every one of the dollars I spend locally has on the entire community and what it brings back to me personally.

 

By shopping locally you are supporting the businesses that provide jobs and income for your friends or family. I'm sure we all have friends or family who work for or own an area business, if we don't shop locally these people might not have their job. This really put things into perspective for me about shopping locally, it's not worth seeing a business close or a friend lose a job cause I decided to go shopping in Norman when I can get everything I need locally.

 

Shopping locally also provides public benefits through local tax dollars. If we want to see improvements in our streets and other public services, then we need to shop locally. Local government is dependent on sales tax dollars to provide public services and make street improvements in the community. If we shop locally, we are supporting these local improvements, if you shop elsewhere you're paying to pave someone else's street instead of your own.

 

Local businesses also donate to community organizations and groups. Our local Wal-Mart donates thousands of dollars to area organizations each year, and numerous small businesses donate money and items to area charities. Could you imagine our community without these local non-profits? I can't and I know that without the support of local businesses these organizations wouldn't be able to provide all of their current programs and services.

 

Another reason I shop locally is the more money that is spent at local retailers, the more attractive our community becomes for other retailers to locate here. One of the primary focuses of my job is to work with existing retailers and recruit new retail operations that fill the existing gaps we have in our community. As more money flows through our local economy instead of through other communities economies, the more attractive our community becomes to other retailers. We all want more retail options in the area, but if we continue to spend our money in other communities these communities will continue to see their retail options grow while ours stagnate. 

 

By shopping locally, you're making the choice to support jobs, public services, community organizations, and future growth. It makes sense to invest my shopping dollars locally, so I can see the return rather than to invest them in another community for someone else to enjoy my investment. I encourage you to Shop Local this holiday season and year round.

 

Ann Marie Miller, CEcD

VP of Economic Development

 
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Economic Indicators

Unemployment Rate

(September 2012)

    Ada MSA -  4.1%

September 2011 - 4.8%

 

  Oklahoma -  5.2%

September 2011 - 6.3%

 

  United States -  7.8%
September 2011 - 9.1%  
  
Labor Force
(September 2012) 

  Ada MSA -  21,618

September 2011 - 20,646

 

  Oklahoma -  1,812,950

September 2011 - 1,774,570

 

  US - 155,063,000

September 2011 - 154,017,000

  

 

Sales Tax Report

(November 2012)

  City of Ada - $1,378,924
November 2011 - $1,110,597
 

   Pontotoc County - $296,628

November 2011 - $270,267

  
  
Use Tax Report
(November 2012) 
  City of Ada - $51,389
November 2011 - $67,879
 
Pontotoc County - $13,646
November  2011 - $18,659

  

  
Lodging Tax Report
(November 2012) 
   Pontotoc County - $21,493
November 2011 - $21,523