Midland Economic Indicators
Midland MSA Economic Index December 2023 | |||
---|---|---|---|
Industry | November 2023 | December 2023 | % Change |
Energy | 106.0 | 104.0 | -2.0 |
Construction | 162.5 | 172.7 | +10.2 |
Manufacturing | 147.3 | 147.1 | -0.2 |
Retail | 127.4 | 129.9 | +2.5 |
Financial Services | 214.6 | 213.8 | -0.8 |
Real Estate | 124.2 | 117.0 | -7.2 |
Professional & Business Services | 123.4 | 122.9 | -0.5 |
Health Care | 110.6 | 111.1 | +0.5 |
Hospitality & Tourism | 154.1 | 153.9 | -0.2 |
Other Activity | 136.1 | 136.5 | +0.4 |
Midland Composite | 115.1 | 113.5 | -1.6 |
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 (December 2023) | 2021 | 2022 | 2023 | 2022-2023 % Change |
Permian Basin Rig Count | 289 | 351 | 311 | -11.40% |
WTI Oil Price | $71.71 | $76.44 | $71.90 | -5.94% |
Henry Hub Natural Gas | $3.76 | $5.53 | $2.52 | -54.43% |
Housing Permits | 89 | 45 | 92 | N/A |
Average Housing Permit Value | $212,000 | $317,400 | $130,670 | -58.83% |
Airline Boardings | 49,698 | 56,854 | 60,688 | 6.74% |
Hotel Receipts | $8,127,365 | $10,260,622 | $9,124,610 | -11.07% |
Employment (Seasonally Adjusted) | 106,800 | 117,300 | 121,600 | +3.67% |
Unemployment Rate | 3.83% | 2.63% | 2.43% | N/A |
Midland Index (2021=100) | 103.47 | 114.55 | 113.49 | N/A |