Economy

Oklahoma among top states in job creation

October 29, 2024

Ray Carter

A recent analysis by an official with the Committee to Unleash Prosperity finds Oklahoma has been among the nation’s top states for job creation since February 2020, the last pre-COVID month.

Based on data from the Bureau of Labor Statistics, Committee to Unleash Prosperity Senior Fellow E.J. Antoni found that Oklahoma generated more jobs than 34 states from February 2020 to September 2024, ranking 16th-best overall.

While that showed significant economic momentum, Oklahoma lagged behind several states that have lower personal income-tax rates, suggesting Oklahoma could have fared even better with the right tax policies in place.

Ten of the 15 states with job creation that outranked Oklahoma also had lower personal income-tax rates, including Utah (4.65 percent), Texas (no income tax), Florida (no income tax), Arizona (2.5 percent), Nevada (no income tax), North Carolina (4.5 percent), Colorado (4.4 percent), Arkansas (4.4 percent), Tennessee (no income tax), and South Dakota (no income tax).

Oklahoma’s top income-tax rate is currently 4.75 percent.

Gov. Kevin Stitt and House leaders sought to cut Oklahoma’s personal income tax this year and put it on a gradual path to full repeal, but Senate lawmakers stymied that effort.

Stitt has continued to push for income-tax reduction and repeal, writing earlier this month on X, “Getting Oklahoma on a Path to Zero income tax is about empowering families to build their own success stories, not relying on the government to tell them what to do with their money.”