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Midland Economic Indicators

 

Midland Economic Index February 2017
Economic Indicators*

Base Year

1996

Last Year

2016

This Year

2017

% Change

2016-2017

Taxable Spending - February (per sales tax rebates) $211,814,521 $453,592,179 $365,410,669 -19.4%
Taxable Spending - YTD $326,514,334 $743,247,138 $649,799,535 -12.6%
Dollars Spent on Auto Purchases - February $14,565,373 $35,928,216 $44,614,524 24.2%
Dollars Spent on Auto Purchases - YTD $29,019,791 $76,136,029 $89,787,667 17.9%
Hotel/Motel Tax Receipts - Quarter $4,508,800 $18,783,294 $16,623,593 -11.5%
Hotel/Motel Tax Receipts - YTD $4,508,800 $18,783,294 $16,623,593 -11.5%
Airline Boardings - February 40,210 33,409 36,323 8.7%
Airline Boardings - YTD 79,019 66,955 71,151 6.3%
Value All Building Permits - February $16,312,809 $19,936,035 $23,730,318 19.0%
Value All Building Permits - YTD $19,800,920 $42,187,900 $39,052,889 -7.4%
Permits for New Homes - February 29 32 75 134.4%
Permits for New Homes - YTD  44 70 130 85.7%
Sales of Existing Homes - February 107 120 147 22.5%
Sales of Existing Homes - YTD 174 220 337 53.2%
Average Home Sale Price - February $83,832 $261,760 $264,980 1.2%
Average Home Sale Price - YTD $84,069 $257,035 $267,326 4.0%
Home Sales Dollar Volume - February $14,441,366 $32,051,746 $38,952,024 21.5%
Home Sales Dollar Volume - YTD $23,576,487 $57,737,562 $90,204,663 56.2%
Employment
Wage & Salary Employment - February 52,300 88,500 87,800 -0.8%
Wage & Salary Employment - YTD Average 52,300 88,900 87,400 -1.7%
Unemployment Rate - February 4.6 4.2 4.2 0.0%
Unemployment Rate - YTD Average 4.8 4.1 4.2 1.2%
INDEX - February (Base = 100 January 1996) 101.1 207.8 192.1 -7.6%

* 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      
May      
June      
July      
August      
September      
October      
November      
December      
Year-To-Date Total $14,840,752 $14,025,114 -5.5%
         

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      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $4,811,282 $5,615,545 16.7%
         

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      
July      
October      
YTD Total $1,284,553 $1,163,652 -9.4%
         
Midland International Airport
Passenger Enplanements
January 33,546 34,828 3.8%
February 33,409 36,323 8.7%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 66,955 71,151 6.3%
         

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      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $42,344,671 $38,999,504 -7.9%
         
City of Midland
New Single-Family Residence Permits
January 38 55 44.7%
February 32 75 134.4%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 70 130 85.7%
         
Midland
Existing Home Sales
January    100 159 59.0%
February 120 147 22.5%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total 220 337 53.2%
         

Midland
Average Home Sale Price

(not adjusted for inflation)

January $251,364 $257,725 2.5%
February $261,760 $264,980 1.2%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average $271,364 $275,643 1.6%
         

Midland
Home Sales Total Dollar Volume

(not adjusted for inflation)

January $25,136,405 $40,978,239 63.0%
February $31,411,193 $38,952,024 24.0%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Total $56,547,598 $90,088,806 59.3%
         
Midland Payroll Employment
per Current Employment Statistics 
January   89,300 87,000 -2.6%
February 88,500 87,800 -0.8%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 88,900 87,400 -1.7%
         
Midland
Estimated Oil & Gas Employment
January 19,430 19,370 -0.3%
February 18,950 19,765 4.3%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 19,190 19,568 2.0%
Midland
Unemployment Rate
January 4.0 4.1 2.5%
February 4.2 4.2 0.0%
March      
April      
May      
June      
July      
August      
September      
October      
November      
December      
YTD Average 4.1 4.2 1.2%