Midland Economic Indicators

 

Midland Economic Index December 2017
Economic Indicators*

Base Year

1996

Last Year

2016

This Year

2017

% Change

2016-2017

Taxable Spending - December(per sales tax rebates) $158,914,601 $283,462,525 $368,882,050 30.1%
Taxable Spending - 4th Quarter $452,678,152 $857,030,095 $1,134,874,499 32.4%
Taxable Spending - YTD $1,775,690,906 $3,592,062,982 $4,071,894,625 13.4%
Dollars Spent on Auto Purchases - December $15,788,533 $44,717,723 $56,870,580 27.2%
Dollars Spent on Auto Purchases - 4th Quarter $46,920,470 $125,615,649 $173,234,629 37.9%
Dollars Spent on Auto Purchases - YTD $180,777,447 $513,578,548 $666,191,914 29.7%
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 - December 46,648 42,531 56,639 33.2%
Airline Boardings - 4th Quarter 136,989 124,372 150,948 21.4%
Airline Boardings - YTD 547,024 467,595 530,322 13.4%
Value All Building Permits - December $5,444,830 $18,626,229 $12,702,283 -31.8%
Value All Building Permits - 4th Quarter $26,679,58 $58,845,446 $81,464,895 38.4%
Value All Building Permits - YTD $139,906,055 $294,511,457 $327,351,364 11.2%
Permits for New Homes - December 19 70 37 -47.1%
Permits for New Homes - 4th Quarter 63 183 152 -16.9%
Permits for New Homes - YTD  292 632 804 27.2%
Sales of Existing Homes - December 93 177 203 14.7%
Sales of Existing Homes - 4th Quarter 287 499 652 30.7%
Sales of Existing Homes - YTD 1,556 2,072 2,740 32.2%
Average Home Sale Price - December $85,360 $280,012 $295,029 5.4%
Average Home Sale Price - 4th Quarter $81,577 $278,297 $284,580 2.3%
Average Home Sale Price - YTD $84,679 $275,812 $292,644 6.1%
Home Sales Dollar Volume - December $12,696,935 $50,926,514 $59,890,857 17.6%
Home Sales Dollar Volume - 4th Quarter  $37,550,529 $142,943,070 $186,003,326 30.1%
Home Sales Dollar Volume - YTD $214,097,997 $592,260,315 $811,842,539 37.1%
Employment
Wage & Salary Employment - December 55,000 87,500 90,200 3.1%
Wage & Salary Employment - 4th Quarter 54,865 84,500 89,735 6.2%
Wage & Salary Employment - YTD Average 53,510 87,350 88,510 1.3%
Unemployment Rate - December 3.7 4.0 2.5 -37.5%
Unemloyment Rate - 4th Quarter 3.9 4.1 2.5 -39.0%
Unemployment Rate - YTD Average 4.5 4.4 3.3 -25.8%
INDEX - December (Base = 100 January 1996) 107.4 192.0 214.5 11.7%

* 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 $2,804,473 $3,554,411 26.7%
YTD Total $32,356,767 $41,403,359 28.0%
         

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 40,864 46,977 15.0%
November 40,977 47,332 15.5%
December 42,531 56,639 33.2%
YTD Total 467,595 530,322 13.4%
         

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 $17,934,434 $12,702,283 -29.2%
YTD Total $284,042,648 $321,434,539 13.2%
         
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 70 37 -47.1%
YTD Total 632 804 27.2%
         
Midland
Existing Home Sales
January    101 175 73.3%
February 118 187 58.5%
March 178 263 47.8%
April 154 238 54.5%
May 187 231 23.5%
June 245 278 13.5%
July 201 240 19.4%
August 199 250 25.6%
September 190 226 18.9%
October 158 257 62.7%
November 164 192 17.1%
December 177 203 14.7%
YTD Total 2,072 2,740 32.2%
         

Midland
Average Home Sale Price

(not adjusted for inflation)

January $249,044 $273,287 9.7%
February $262,519 $259,584 -1.1%
March $261,762 $282,043 7.7%
April $257,183 $288,570 12.2%
May $286,103 $308,881 8.0%
June $276,456 $312,009 12.9%
July $285,890 $313,324 9.6%
August $301,154 $295,440 -1.9%
September $271,866 $309,404 13.8%
October $279,906 $260,907 -6.8%
November $274,896 $305,219 11.0%
December $280,012 $295,029 5.4%
YTD Average $275,812 $292,644 6.1%
         

Midland
Home Sales Total Dollar Volume

(not adjusted for inflation)

January $25,153,405 $47,825,278 90.1%
February $30,977,193 $48,542,242 56.7%
March $46,593,599 $74,177,191 59.2%
April $39,606,158 $68,679,755 73.4%
May $53,501,307 $71,351,506 33.4%
June $67,731,615 $86,738,577 28.1%
July $57,463,979 $75,197,870 30.9%
August $59,929,581 $73,860,031 23.2%
September $51,654,599 $69,925,300 35.4%
October $44,225,202 $67,053,151 51.6%
November $45,082,938 $58,602,003 30.0%
December $49,562,091 $59,890,857 20.8%
YTD Total $571,481,667 $801,843,761 40.3%
         
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 89,900 2.3%
December 87,500 90,200 3.1%
YTD Average 87,350 88,508 1.3%
         
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 21,970 16.0%
November 19,110 22,225 16.3%
December 19,330 22,310 15.4%
YTD Average 18,726 20,974 12.0%
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 4.0 2.5 -37.5%
YTD Average 4.4 3.3 -25.8%