Midland Economic Indicators

 

Midland Economic Index September 2017
Economic Indicators*

Base Year

1996

Last Year

2016

This Year

2017

% Change

2016-2017

Taxable Spending - September (per sales tax rebates) $139,638,227 $256,529,101 $354,387,699 38.1%
Taxable Spending - 3rd Quarter $434,713,814 $838,483,617 $1,081,833,589 29.0%
Taxable Spending - YTD $1,316,831,010 $2,722,253,515 $2,923,296,973 7.4%
Dollars Spent on Auto Purchases - September $15,111,840 $45,247,300 $52,388,778 15.8%
Dollars Spent on Auto Purchases - 3rd Quarter $45,031,305 $132,715,350 $169,826,082 28.0%
Dollars Spent on Auto Purchases - YTD $131,833,023 $382,096,796 $485,503,639 27.1%
Hotel/Motel Tax Receipts - Quarter $4,959,417 $16,564,516 $23,770,975 43.5%
Hotel/Motel Tax Receipts - YTD $13,900,941 $53,732,967 $56,500,500 5.2%
Airline Boardings - September 44,654 38,302 40,175 4.9%
Airline Boardings - 3rd Quarter 139,473 115,456 129,233 11.9%
Airline Boardings - YTD 410,035 345,223 380,419 10.2%
Value All Building Permits - September $5,306,944 $26,285,246 $14,905,176 -43.3%
Value All Building Permits - 3rd Quarter $31,242,225 $102,314,982 $89,699,633 -12.3%
Value All Building Permits - YTD $111,976,961 $233,065,323 $243,143,404 4.3%
Permits for New Homes - September 20 32 44 37.5%
Permits for New Homes - 3rd Quarter 67 157 198 26.1%
Permits for New Homes - YTD  229 449 652 45.2%
Sales of Existing Homes - September 154 195 239 22.6%
Sales of Existing Homes - 3rd Quarter 494 600 726 21.0%
Sales of Existing Homes - YTD 1,269 1,594 2,114 32.6%
Average Home Sale Price - September  $91,380 $269,987 $310,728 15.1%
Average Home Sale Price - 3rd Quarter $87,151 $283,640 $305,588 7.7%
Average Home Sale Price - YTD $85,381 $274,263 $293,593 7.0%
Home Sales Dollar Volume - September $22,536,093 $54,005,526 $74,263,914 37.5%
Home Sales Dollar Volume - 3rd Quarter $69,139,849 $174,873,961 $222,357,663 27.2%
Home Sales Dollar Volume - YTD $175,305,290 $450,862,261 $625,803,012 38.8%
Employment
Wage & Salary Employment - September 53,900 86,800 89,100 2.6%
Wage & Salary Employment - 3rd Quarter 53,535 86,565 88,635 2.4%
Wage & Salary Employment - YTD Average 53,055 87,300 88,100 0.9%
Unemployment Rate - September 4.3 4.6 2.8 -39.1%
Unemployment Rate - 3rd Quarter 4.7 4.7 3.1 -35.2%
Unemployment Rate - YTD Average 4.8 4.5 3.5 -21.8%
INDEX - August (Base = 100 January 1996) 104.8 192.2 207.4 7.9%

* With the exception of the average home sale price, all economic indicators expressed in dollar form above are adjusted for inflation by restating prior periods in current dollars.


 

Midland, Texas Economic Indicators
    2016 2017 % Change
2016-2017

City of Midland
Sales Tax Rebate

(not adjusted for inflation)

January $4,231,028 $4,257,903 0.6%
February $6,637,691 $5,481,160 -17.4%
March $3,972,033 $4,286,051 7.9%
April $3,630,047 $4,050,977 11.6%
May $5,119,275 $4,931,320 -3.7%
June $3,777,140 $4,402,437 16.6%
July $3,854,419 $4,915,077 27.5%
August $4,674,968 $5,975,608 27.8%
September $3,772,302 $5,315,815 40.9%
October $3,807,577 $5,395,707 41.7%
November      
December      
Year-To-Date Total $43,476,480 $49,012,056 12.7%
         

Midland County
Motor Vehicle Sales Tax

(not adjusted for inflation)

January $2,538,772 $2,827,137 11.4%
February $2,272,509 $2,788,408 22.7%
March $2,886,807 $3,548,533 22.9%
April $2,780,734 $3,298,075 18.6%
May $2,696,472 $3,798,023 40.9%
June $2,853,118 $3,755,642 31.6%
July $2,445,866 $3,119,562 27.5%
August $3,133,980 $4,250,402 35.6%
September $2,877,005 $3,274,299 13.8%
October      
November      
December      
YTD Total $24,485,264 $30,660,080 25.2%
         

City of Midland
Hotel/Motel Tax Receipts
Collected January, April, July and October
for previous quarters ending
December, March, June and September

(not adjusted for inflation)

January $1,284,553 $1,163,652 -9.4%
April $1,249,296 $1,113,081 -10.9%
July $1,136,980 $1,663,968 46.3%
October      
YTD Total $3,670,828 $3,940,701 7.4%
         
Midland International Airport
Passenger Enplanements
January 33,546 34,828 3.8%
February 33,409 36,323 8.7%
March 40,166 45,141 12.4%
April 38,313 40,193 4.9%
May 40,917 46,621 13.9%
June 43,416 48,080 10.7%
July 40,427 45,023 11.4%
August 36,727 44,035 19.9%
September 38,302 40,175 4.9%
October      
November      
December      
YTD Total 345,223 380,419 10.2%
         

City of Midland
Building Permit Valuation Total

(not adjusted for inflation)

January $22,361,591 $15,269,187 -31.7%
February $19,983,080 $23,730,318 18.8%
March $13,246,867 $43,767,225 230.4%
April $29,328,359 $21,143,868 -27.9%
May $20,332,298 $18,772,714 -7.7%
June $22,744,244 $28,399,386 24.9%
July $53,535,862 $52,246,965 -2.4%
August $20,382,004 $22,120,411 8.5%
September $25,533,486 $14,905,176 -41.6%
October      
November      
December      
YTD Total $227,447,791 $240,355,250 5.7%
         
City of Midland
New Single-Family Residence Permits
January 38 55 44.7%
February 32 75 134.4%
March 36 102 183.3%
April 61 80 31.1%
May 43 57 32.6%
June 82 85 3.7%
July 40 95 137.5%
August 85 59 -30.6%
September 32 44 37.5%
October      
November      
December      
YTD Total 449 652 45.2%
         
Midland
Existing Home Sales
January    100 182 82.0%
February 120 186 55.0%
March 180 265 47.2%
April 156 232 48.7%
May 189 234 23.8%
June 249 287 15.3%
July 204 239 17.2%
August 201 248 23.4%
September 195 239 22.6%
October      
November      
December      
YTD Total 1,594 2,114 32.6%
         

Midland
Average Home Sale Price

(not adjusted for inflation)

January $251,364 $268,422 6.8%
February $261,760 $259,321 -0.9%
March $263,047 $280,245 6.5%
April $255,930 $289,330 13.1%
May $284,856 $306,254 7.5%
June $278,440 $307,138 10.3%
July $283,905 $310,029 9.2%
August $296,617 $296,355 -0.1%
September $269,987 $310,728 15.1%
October      
November      
December      
YTD Average $271,7677 $291,950 7.4%
         

Midland
Home Sales Total Dollar Volume

(not adjusted for inflation)

January $25,136,405 $48,852,795 94.4%
February $31,411,193 $48,233,742 53.6%
March $47,348,499 $74,264,856 56.8%
April $39,925,058 $67,124,505 68.1%
May $53,837,807 $71,663,506 33.1%
June $69,331,615 $88,148,477 27.1%
July $57,916,679 $74,096,963 27.9%
August $59,620,081 $73,495,997 23.3%
September      
October      
November      
December      
YTD Total $437,174,836 $620,654,755 42.0%
         
Midland Payroll Employment
per Current Employment Statistics 
January   89,300 87,000 -2.6%
February 88,500 87,700 -0.9%
March 87,700 87,600 -0.1%
April 87,400 87,900 0.6%
May 86,800 88,200 1.6%
June 86,300 88,600 2.7%
July 86,300 88,300 2.3%
August 86,600 88,500 2.2%
September 86,800 89,100 2.6%
October      
November      
December      
YTD Average 87,300 88,100 0.9%
         
Midland
Estimated Oil & Gas Employment
January 19,430 19,395 -0.2%
February 18,950 19,715 4.0%
March 18,580 19,555 5.2%
April 18,360 19,635 6.9%
May 18,085 19,715 9.0%
June 18,180 20,035 10.2%
July 18,440 20,195 9.5%
August 18,630 20,275 8.8%
September 18,680 20,675 10.7%
October      
November      
December      
YTD Average 18,593 19,911 7.1%
Midland
Unemployment Rate
January 4.0 4.1 2.5%
February 4.2 4.2 0.0%
March 4.4 4.0 -9.1%
April 4.5 3.5 -22.2%
May 4.5 3.4 -24.4%
June 5.0 3.5 -30.0%
July 4.9 3.2 -34.7%
August 4.7 3.2 -31.9%
September 4.6 2.8 -39.1%
October      
November      
December      
YTD Average 4.5 3.5 -21.8%