The economy in Oklahoma seems to have picked up. The sales tax revenue receipts show that shopping and spending was up in December. The Enid News and Eagle reported that the sales tax revenue was up 26.9 this December when compared to December 2010. The website http://www.stateimpact.npr.org/ states that Tulsa’s December revenues jumped 14.2 when compared to last December and Oklahoma City’s revenue saw a 1.2 percent increase.
Does this information mean that Oklahoma’s economy is better or does it mean that now some families in Oklahoma might have some debt? Oklahoma City only showed a 1.2 percent increase so does that mean those families didn’t have as much to spend or were they just being more frugal? According to www.cnbc.com the weekly unemployment claims in December dropped to 2008 levels and that points to a slightly improving employment picture.
Part of the impact, of more people employed, would be consumer spending. Did those new jobs create revenue that was spent on gifts for the family or did bills get paid? Many families have been struggling and not getting the bills paid. Hopefully the jobs enabled families to do both.
What about those families that shopped on credit or didn’t find a job or get a raise? There are still families in Oklahoma City that are fighting to keep their bills paid. Families might want to start using coupons. They could also shop at thrift stores, garage sales and only buy new items on sale. Hopefully the economy will continue to thrive and families will be able to work and play.
Did your family spend more this year than last? What do you do to pay your bills when the money is not enough? What do you do for play when the money is tight?
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