kimerajamm
Joined: 28 Nov 2010
Posts: 785
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 Posted: Thu Apr 28, 2011 2:48 am Post subject: its gross domestic |
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Based in the sectors of aviation, energy, transportation equipment, food processing, electronics, and telecommunications, Oklahoma is an important producer of natural gas, aircraft, and food.[5] The state ranks second in the nation for production of natural gas,[63] and is the 27th-most agriculturally productive state, ranking 5th in production of wheat.[64] Four Fortune 500 companies and three Fortune 1000 companies are headquartered in Oklahoma,[65] and it has been rated one of the most business-friendly states in the nation,[66] with the 7th-lowest tax burden in 2007.[67] From 2000 to 2006, Oklahoma's gross domestic product grew 50 percent, the fifth-highest rate in the nation. It had the fastest-growing GDP between 2005 and 2006, increasing from $122.5 to $134.6 billion, a jump of 10.8 percent,[7] and its gross domestic product per capita grew 5.9 percent from $36,364 in 2006 to $38,516 in 2007, the third-fastest rate in the nation. Its 2007 per capita GDP ranked 41st among the states.[68] Though oil has historically dominated the state's economy, a collapse in the energy industry during the 1980s led to the loss of nearly 90,000 energy-related jobs between 1980 and 2000, severely damaging the local economy.[69] Oil accounted for 17 percent of Oklahoma's economic impact in 2005,[70] and employment in the state's oil industry was outpaced by five other industries in 2007.[71]
As of January 2010, the state's unemployment rate is 6.7%.[7
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