Midland Economic Indicators
| Midland MSA Economic Index May 2024 | |||
|---|---|---|---|
| Industry | April 2024 | May 2024 | % Change |
| Energy | 106.5 | 104.5 | -2.0 |
| Construction | 180.1 | 206.4 | +26.3 |
| Manufacturing | 126.5 | 126.8 | +0.3 |
| Retail | 123.9 | 125.5 | +1.6 |
| Financial Services | 227.1 | 227.9 | +0.8 |
| Real Estate | 126.9 | 134.5 | +7.6 |
| Professional & Business Services | 124.8 | 125.4 | -0.3 |
| Health Care | 121.1 | 122.5 | +1.4 |
| Hospitality & Tourism | 159.2 | 159.8 | +0.6 |
| Other Activity | 139.0 | 138.8 | -0.2 |
| Midland Composite | 115.9 | 115.5 | -0.4 |
Note: Industries are not weighted equally in calculating the Industry Composite; see the Appendix for further explanation. The Midland Metropolitan Statistical Area (MSA) includes Midland and Martin counties. Source: The Perryman Group
| Selected Midland Economic Indicators | ||||
|---|---|---|---|---|
| Indicator May 2024 | 2022 | 2023 | 2024 | 2023-2024 % Change |
| Permian Basin Rig Count | 339 | 352 | 313 | -11.14% |
| WTI Oil Price | $109.55 | $71.58 | $80.02 | +7.54% |
| Henry Hub Natural Gas | $8.14 | $2.15 | $2.12 | -1.40% |
| Housing Permits | 46 | 85 | 120 | +41.18% |
| Average Housing Permit Value | $187,051 | $272,321 | $160,441 | -41.08% |
| Airline Boardings | 50,925 | 51,855 | 61,502 | +18.60% |
| Hotel Receipts | $11,260,431 | $12,516,098 | $12,604,653 | +0.71% |
| Employment (Seasonally Adjusted) | 111,900 | 120,000 | 122,100 | +1.75% |
| Unemployment Rate | 2.96% | 2.52% | 2.54% | N/A |
| Midland Index (2021=100) | 116.5 | 115.8 | 115.5 | N/A |