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2014 Tulsa Transportation Employment Outlook

In 2014, Tulsa is projected to feature about 10,500 jobs, up 2.3% over 2013.

Employment expectations for target industries, include health care; energy; aerospace; advanced manufacturing; professional and business services; and transportation, distribution and logistics.

Employment is forecast to grow 7.4 % within the area's advanced manufacturing sector next year compared with 6.3 % this year.

An aging population is causing to slow labor growth, and may lead to slower employment growth across the nation and locally through the end of the decade. Also, as economies get stronger nationwide, the pool of individuals who might potentially move to Oklahoma may shrink, making the state additionally dependent on its own labor.

Nonfarm payrolls have improved. The U.S. was shedding nearly 800,000 jobs a month at the worst of the recession. Within the last 3 months, it's been adding between 180,000 and 205,000 a month.

Consumer confidence is presently higher than business confidence as a result of rising home values and investment portfolios, together with 401(k) and similar retirement plans.

The nation will still grow even if interest rates begin to rise.

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