Midland Economic Indicators

 

Midland Economic Index October 2017
Economic Indicators*

Base Year

1996

Last Year

2016

This Year

2017

% Change

2016-2017

Taxable Spending - November (per sales tax rebates) $170,246,749 $313,464,460 $404,423,387 29.0%
Taxable Spending - YTD $1,614,074,550 $3,303,071,537 $3,696,824,564 11.9%
Dollars Spent on Auto Purchases - November $15,502,529 $39,834,662 $56,621,810 42.1%
Dollars Spent on Auto Purchases - YTD $163,591,364 $464,889,308 $604,160,035 30.0%
Hotel/Motel Tax Receipts - Quarter $5,135,107 $15,537,073 $26,497,432 70.5%
Hotel/Motel Tax Receipts - YTD $19,032,984 $69,438,724 $82,985,481 19.5%
Airline Boardings - November 41,764 40,977 47,332 15.5%
Airline Boardings - YTD 500,376 425,064 473,683 11.4%
Value All Building Permits - November $14,267,305 $21,916,624 $39,822,435 81.7%
Value All Building Permits - YTD $133,957,907 $274,852,530 $313,459,762 14.0%
Permits for New Homes - November 18 60 62 3.3%
Permits for New Homes - YTD  273 562 767 36.5%
Sales of Existing Homes - November 96 165 148 -10.3%
Sales of Existing Homes - YTD 1,463 1,922 2,530 31.6%
Average Home Sale Price - November $77,968 $274,581 $299,180 9.0%
Average Home Sale Price - YTD $84,636 $274,649 $290,479 5.8%
Home Sales Dollar Volume - November $11,976,296 $46,528,896 $44,278,668 -4.8%
Home Sales Dollar Volume - YTD $200,925,312 $546,216,584 $743,232,633 36.1%
Employment
Wage & Salary Employment - November 54,900 87,900 90,000 2.4%
Wage & Salary Employment - YTD Average 53,375 87,335 88,365 1.2%
Unemployment Rate - November 4.0 4.0 2.6 -35.0%
Unemployment Rate - YTD Average 4.6 4.5 3.4 -24.8%
INDEX - November (Base = 100 January 1996) 106.7 191.7 212.5 10.9%

* 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 $4,615,014 $6,066,351 31.4%
December $4,174,184 $4,611,026 10.5%
Year-To-Date Total $52,265,678 $59,689,432 14.2%
         

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 $2,550,588 $3,650,005 43.1%
November $2,516,442 $3,538,863 40.6%
December      
YTD Total $29,552,294 $37,848,948 28.1%
         

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 $1,071,057 $1,854,820 73.2%
YTD Total $4,741,886 $5,795,521 22.2%
         
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 39,942 45,834 14.8%
November 40,977 47,332 15.5%
December      
YTD Total 425,064 473,683 11.4%
         

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 $17,510,313 $28,554,571 63.1%
November $21,150,110 $39,822,435 88.3%
December      
YTD Total $266,108,214 $308,732,256 16.0%
         
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 53 53 0.0%
November 60 62 3.3%
December      
YTD Total 562 767 36.5%
         
Midland
Existing Home Sales
January    100 182 82.0%
February 120 186 55.0%
March 180 267 48.3%
April 156 245 57.1%
May 189 235 24.3%
June 249 288 15.7%
July 204 239 17.2%
August 201 251 24.9%
September 195 229 17.4%
October 163 259 58.9%
November 165 148 -10.3%
December      
YTD Total 1,922 2,530 31.6%
         

Midland
Average Home Sale Price

(not adjusted for inflation)

January $251,364 $268,422 6.8%
February $261,760 $259,164 -1.0%
March $263,047 $280,258 6.5%
April $255,930 $288,470 12.7%
May $284,856 $306,143 7.5%
June $278,440 $306,998 10.3%
July $283,905 $313,044 10.3%
August $296,617 $295,454 -0.4%
September $269,987 $311,346 15.3%
October $278,500 $259,376 -6.9%
November $274,581 $299,180 9.0%
December      
YTD Average $274,649 $290,479 5.8%
         

Midland
Home Sales Total Dollar Volume

(not adjusted for inflation)

January $25,136,405 $48,852,795 94.4%
February $31,411,193 $48,463,742 54.3%
March $47,348,499 $74,828,991 58.0%
April $39,925,058 $70,675,255 77.0%
May $53,837,807 $71,943,506 33.6%
June $69,331,615 $88,415,477 27.5%
July $57,916,679 $74,817,590 29.2%
August $59,620,081 $74,159,031 24.4%
September $52,647,499 $71,298,339 35.4%
October $45,395,452 $67,178,390 48.0%
November $45,305,938 $44,278,668 -2.3%
December      
YTD Total $527,876,226 $734,911,784 39.2%
         
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 87,100 89,100 2.3%
November 87,900 90,000 2.4%
December      
YTD Average 87,336 88,364 1.2%
         
Midland
Estimated Oil & Gas Employment
January 19,430 19,090 -1.7%
February 18,950 19,525 3.0%
March 18,580 19,905 7.1%
April 18,360 20,280 10.5%
May 18,085 20,660 14.2%
June 18,180 21,155 16.4%
July 18,440 21,330 15.7%
August 18,630 21,440 15.1%
September 18,680 21,800 16.7%
October 18,935 22,055 16.5%
November 19,110 22,140 15.9%
December      
YTD Average 18,671 20,845 11.6%
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 4.3 2.4 -44.2%
November 4.0 2.6 -35.0%
December      
YTD Average 4.5 3.4 -24.8%