In a press conference today, Governor Brad Henry announced that the Oklahoma economy is strong and not experiencing the effects of the recent stock market downturn as much as other states. He indicated that state revenue for FY 2009 is $93 million above last year and $75 million above the estimate used for state budgeting. In addition, the Rainy Day Fund has the highest balance in the history of the state.
“We are pleased that the state is weathering the worldwide financial crisis so well,” said OPEA Executive Director Sterling Zearley. “We hope that state leaders will use the growth revenue to address state employee compensation.”
State employees, who have only received two pay raises in the last eight years, are having trouble providing for their families on salaries that average 12 percent below the Oklahoma market. The average state employee paycheck has lost over $4,000 in purchasing power since 2000.
In addition, state employees will lose money from their paychecks in January to provide health insurance for their families. For example a state employee with coverage for a spouse and two or more children will lose $130 per month.
“The state is losing $85 million in turnover costs by not providing state employees with compensation that is comparable to the market,” continued Zearley. “The state workforce is critical to the health and safety of all Oklahomans. We encourage state leaders to make state employee issues a high priority in the coming legislative session.”
Posted on
Thu, October 9, 2008
by Trish Frazier