Oklahoma unemployment rate hits 5-year low

OKLAHOMA CITY (AP) - Oklahoma’s unemployment rate has fallen to a five-year low, dropping below 5 percent for the first time since 2008.

The Oklahoma Employment Security Commission reported Friday that the state’s unemployment rate fell to 4.9 percent in March, down from 5 percent in February. With the help of a booming oil and natural gas industry, Oklahoma’s unemployment rate remains well below the national average of 6.7 percent.

The OESC reports about 89,400 Oklahomans were unemployed in March.

The state’s seasonally adjusted nonfarm employment grew by about 2,100 jobs last month, with most of the gains coming in the educational and health services sector. The only sector to report job losses in March was government, which shed about 1,700 jobs.