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The May 2021 OEWS estimates contain approximately 830 occupational categories based on the Office of Management and Budget’s 2018 Standard Occupational Classification (SOC) system. Together, these
Employment and wages for 2021 are reported by major industry division as defined in the 2022 North American Industry Classification System Manual. Industry detail shown in this handbook
From September 2021 to December 2021, gross job gains from opening and expanding private- sector establishments in Oklahoma totaled 94,365, an increase of 6,054 jobs from the previous quarter.
- OVERALL MARKET 4
- DOWNTOWN 9
- MIDTOWN 13
- NORTH 17
- NORTHWEST 21
- PROMINENT INDUSTRIES
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- CHALLENGES
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Overall Ofice Summary Market Summary Under Renovation Market Vacancy Market Asking Rents
Prominent Industries Driving Development Asking Rents Contiguous Space Availability Notable Occupiers Completed Leasing Transactions Sales Volume
Prominent Industries Driving Development Asking Rents Contiguous Space Availability Notable Occupiers Completed Leasing Transactions Sales Volume
Prominent Industries Driving Development Asking Rents Contiguous Space Availability Notable Occupiers Completed Leasing Transactions Sales Volume
Prominent Industries Driving Development Asking Rents Contiguous Space Availability Notable Occupiers Completed Leasing Transactions Sales Volume
LEGAL SERVICES Although law firms have begun to occupy smaller ofice footprints in recent years, legal ofices still occupy significant square footage in multi-tenant assets in the Downtown submarket. Many of the state’s top firms are located Downtown and occupy large blocks of class A ofice space. ENERGY Amongst the rightsizing of square footage fr...
NOTABLE OCCUPIERS Tenant BancFirst Heartland Payment Systems McAfee & Taft BOK US Attorney Phillips Murrah Hall Estill
Large block availabilities for new market entrants Planned mixed-use development to possibly bring new dining and entertainment entrants to the market
Risk of over-dependence on the energy sector Single-tenant ofice space returning to the market as national firms continue to weigh their post-pandemic real estate strategies.
INSURANCE Several of the largest insurance companies in the United States lease space in the Northwest submarket, including Farmers, New York Life, Blue Cross and Blue Shield, Mutual of Omaha, Liberty Mutual, and more. ENERGY Similar to the remainder of the Oklahoma City metro, the energy sector is a key driver to the Northwest ofice market. Unlike...
Large block availabilities for new market entrants New entrants to Oklahoma City, mainly in the retail sector
Rightsizing and shadow space of Chesapeake Energy and other oil and gas users Stagnant leasing activity for Class A ofice space
MAPS projects provide opportunities for private developers Future ofice development will build off existing retail and multi-family to improve Midtown as an eat-work-play environment.
Direct competition with downtown ofice towers and community High vacancy driven by Class C inventory
NOTABLE EMPLOYERS Company Hogan Taylor, LLP Ackerman McQueen Lingo Construction Industry Accounting/Finance Advertising/Media Construction
Rapidly growing presence of companies such as Hobby Lobby, FedEx, Boeing and Baker Hughes Will Rogers World Airport and Tinker Air Force Base expansion and economic impact
Slow or non-existent ofice market growth Heavy dependency on single company, Hobby Lobby
Sep 6, 2024 · Oklahoma City had 91,690 jobs in office and administrative support, accounting for 14.0 percent of local area employment, compared to the 12.2-percent share nationally. The average hourly wage for this occupational group locally was $21.07, compared to the national wage of $23.05.
Jul 7, 2021 · Oklahoma City had 33,130 jobs in construction and extraction, accounting for 5.4 percent of local area employment, significantly higher than the 4.3-percent share nationally. The average hourly wage for this occupational group locally was $23.50, significantly below the national wage of $25.93.
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Sep 8, 2022 · Oklahoma’s Changing Employment Mix Since COVID: More Warehouse and Finance Jobs, Fewer Energy and Office Support Jobs. This edition of the Oklahoma Economist looks at which Oklahoma industries have added and shed the most jobs over the past three years, and how much these industries pay.
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