The 2023 Employment Outcomes Report by the Oklahoma State Regents for Higher Education brings forth promising news for the state’s economy and workforce. According to the latest data, a considerable majority of graduates from Oklahoma’s public universities and colleges choose to stay and work within the state, thereby significantly contributing to the local economy. This trend showcases an increase in graduate retention rates over the years, indicating better job opportunities and a more attractive environment for young professionals. Specifically, the report highlights that 87% of graduates were living and working in Oklahoma one year after graduation. Remarkably, 75% remained in the state five years post-graduation. These statistics contrast sharply with the figures from 2018, which showed that only 74% of graduates stayed after one year and a mere 65% remained five years later. Such positive trends underscore how Oklahoma’s higher education system plays a critical role in fortifying the state’s economic and workforce landscape.
The Contributions of Resident and Non-Resident Graduates
Insights from Higher Education Chancellor Allison Garrett suggest that both resident graduates and a significant portion of non-residents are making valuable contributions across vital sectors, including healthcare, engineering, computer science, education, and business. It’s pivotal to examine the retention rates among non-residents, who remain in the state at a slightly lower rate than resident graduates. Specifically, about 61% of non-resident graduates continue living and working in Oklahoma one year after graduation. This localized retention of non-resident students reflects the ability of Oklahoma’s job market to attract and keep talent from outside its borders, further strengthening the state’s workforce and, by extension, its economy. Garrett stresses that this blend of resident and non-resident graduates helps to address staffing needs in crucial industries while fostering innovation and growth across multiple fields.
Several factors contribute to these high retention rates. Firstly, the state’s economy provides a conducive environment for fresh graduates, with promising job prospects, competitive salaries, and opportunities for professional growth. Moreover, the supportive network of alumni and industry partnerships facilitated through state universities ensures that graduates have access to valuable resources and connections. Consequently, these supportive elements make Oklahoma not just a place to study but a viable location to launch a career and build a future, encouraging graduates to remain and contribute to the state’s prosperity.
Critical Occupations and Graduate Retention Rates
Oklahoma shows particularly strong retention rates in fields identified as “critical occupations”—fields with high demand and projected growth. For instance, 83% of STEM graduates were found working in Oklahoma a year after earning their degrees. Similarly, 79% of engineering graduates, an impressive 94% of nursing graduates, and 92% of teaching graduates were employed within the state one year post-graduation. These figures have significant long-term implications for the state’s ability to meet labor demands in crucial sectors that are essential for its socio-economic development. Even five years later, the majority of these graduates continue to contribute to the Oklahoma workforce, with retention rates of 64% for STEM, 57% for engineering, 85% for nursing, and 80% for teaching. Such long-term retention illustrates the effectiveness of the state’s higher education system in not just educating but also maintaining a skilled labor force.
To bolster these fields further, Oklahoma has implemented various incentive programs and partnerships aimed at retaining talent within its borders. Targeted scholarship programs, internships, and job placement services are some of the initiatives that have proven effective in keeping graduates rooted in the state. The high retention rates in these critical occupations align with the broader aim of meeting workforce needs in economically and socially beneficial sectors. By ensuring a steady influx of skilled professionals, Oklahoma positions itself as a competitive player in sectors like healthcare and engineering, which are crucial for long-term economic stability and growth.
The Impact of Scholarships on Graduate Retention
A key driver in the retention of graduates is the availability and impact of scholarship programs such as the Oklahoma Promise. The report indicates exceptionally high retention and employment rates for recipients of this scholarship. Nearly 95% of Oklahoma Promise scholarship recipients were employed in the state one year after graduation, and almost 84% remained in the state five years later. These high retention rates spotlight the effectiveness of financial incentives in encouraging graduates to stay within state borders. Regent Dennis Casey has emphasized that this trend demonstrates the value of the state’s investment in higher education. Scholarships reduce the financial burden on students, making it easier for them to pursue quality education without the accompanying stress of debt. This reduction in financial strain enables graduates to focus more on their careers and less on immediate monetary concerns, thereby making the prospect of staying in Oklahoma more appealing.
The outcomes also suggest that these scholarship recipients are extensively contributing to critical sectors, thereby supporting Oklahoma’s labor force and economy significantly. The state’s commitment to higher education through programs like Oklahoma Promise effectively nurtures a cycle of continuous improvement. As more graduates stay and work in Oklahoma, they contribute to the local economy, which in turn can reinvest in further educational initiatives. This virtuous cycle is crucial for sustaining long-term economic and workforce stability.
Long-Term Economic and Workforce Implications
The 2023 Employment Outcomes Report by the Oklahoma State Regents for Higher Education delivers encouraging news for the state’s economy and workforce. The latest data reveals that a significant majority of graduates from Oklahoma’s public universities and colleges opt to stay and work within the state, greatly bolstering the local economy. This upward trend in graduate retention over the years suggests improved job opportunities and a more appealing environment for young professionals. Specifically, the report indicates that 87% of graduates were living and working in Oklahoma one year after earning their degrees. Impressively, 75% remained in the state five years post-graduation. These figures are a marked improvement compared to 2018, when only 74% of graduates stayed after one year, and just 65% remained five years later. This positive shift highlights the pivotal role Oklahoma’s higher education system plays in strengthening the state’s economic and workforce landscape, showcasing how investments in education can yield long-term benefits for the local community and industry.
