Midland Economic Indicators
Midland Economic Index September 2019 | ||||
---|---|---|---|---|
Economic Indicators* |
Base Year |
Last Year |
This Year |
% Change |
Taxable Spending - September (per sales tax rebates) | $145,563,569 | $455,059,562 | $526,314,924 | 15.7% |
Taxable Spending - 3rd Quarter | $453,160,253 | $1,450,606,524 | $1,568,967,270 | 8.2% |
Taxable Spending - YTD | $1,372,708,789 | $4,091,358,869 | $4,591,236,272 | 12.2% |
Dollars Spent on Auto Purchases - September | $15,298,924 | $67,086,299 | $65,863,917 | -1.8% |
Dollars Spent on Auto Purchases - 3rd Quarter | $45,588,792 | $230,112,056 | $217,393,289 | -5.5% |
Dollars Spent on Auto Purchases - YTD | $133,465,113 | $652,629,427 | $688,783,092 | 5.5% |
Hotel/Motel Revenue - Quarter | $5,051,588 | $46,506,398 | $37,255,739 | -19.9% |
Hotel/Motel Revenue - YTD | $14,159,291 | $115,633,503 | $110,613,384 | -4.3% |
Airline Boardings - September | 44,654 | 47,708 | 53,424 | 12.0% |
Airline Boardings - 3rd Quarter | 139,473 | 154,159 | 168,897 | 9.6% |
Airline Boardings - YTD | 410,035 | 444,282 | 477,273 | 7.4% |
Value All Building Permits - September | $5,753,830 | $27,170,442 | $98,410,128 | 262.2% |
Value All Building Permits - 3rd Quarter | $33,873,063 | $111,515,475 | $220,482,463 | 97.7% |
Value All Building Permits - YTD | $121,406,291 | $446,995,663 | $620,076,982 | 38.7% |
Permits for New Homes - September | 20 | 71 | 71 | 0.0% |
Permits for New Homes - 3rd Quarter | 67 | 320 | 210 | -34.4% |
Permits for New Homes - YTD | 229 | 876 | 596 | -32.0% |
Sales of Existing Homes - September | 154 | 252 | 224 | -11.1% |
Sales of Existing Homes - 3rd Quarter | 494 | 780 | 781 | 0.1% |
Sales of Existing Homes - YTD | 1,269 | 2,129 | 2,195 | 3.1% |
Average Home Sale Price - September | $91,380 | $351,366 | $318,294 | -9.4% |
Average Home Sale Price - 3rd Quarter | $87,151 | $329,241 | $343,963 | 4.5% |
Average Home Sale Price - YTD | $85,381 | $323,718 | $342,046 | 5.7% |
Home Sales Dollar Volume - September | $23,740,945 | $90,870,450 | $71,297,760 | -21.5% |
Home Sales Dollar Volume - 3rd Quarter | $72,836,287 | $264,006,147 | $269,361,750 | 2.0% |
Home Sales Dollar Volume - YTD | $184,677,675 | $712,364,838 | $757,291,891 | 6.3% |
Employment | ||||
Wage & Salary Employment - September | 53,900 | 110,700 | 111,500 | 0.7% |
Wage & Salary Employment - 3rd Quarter | 53,535 | 110,435 | 111,535 | 1.0% |
Wage & Salary Employment - YTD Average | 53,055 | 107,120 | 110,790 | 3.4% |
Unemployment Rate - September | 4.3 | 2.0 | 2.0 | 0.0% |
Unemployment Rate - 3rd Quarter | 4.7 | 2.1 | 2.1 | 3.2% |
Unemployment Rate - YTD Average | 4.8 | 2.2 | 2.1 | -4.6% |
INDEX - September (Base = 100 January 1996) | 104.8 | 261.5 | 275.3 | 5.3% |
* 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 | ||||
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2018 | 2019 | % Change 2018-2019 |
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City of Midland (not adjusted for inflation) |
January | $4,605,591 | $5,718,746 | 24.2% |
February | $6,131,736 | $7,213,871 | 17.6% | |
March | $5,401,078 | $6,047,200 | 12.0% | |
April | $4,732,483 | $5,678,067 | 20.0% | |
May | $6,030,437 | $6,909,294 | 14.6% | |
June | $5,102,299 | $5,878,671 | 15.2% | |
July | $5,748,985 | $6,210,666 | 8.0% | |
August | $6,408,132 | $6,795,857 | 6.1% | |
September | $5,573,584 | $6,578,937 | 18.0% | |
October | $5,843,893 | $6,099,967 | 4.4% | |
November | ||||
December | ||||
Year-To-Date Total | $55,578,219 | $63,131,276 | 13.6% | |
Midland County (not adjusted for inflation) |
January | $4,205,787 | $4,884,126 | 16.1% |
February | $5,442,403 | $4,659,710 | -14.4% | |
March | $3,877,032 | $4,687,519 | 20.9% | |
April | $4,622,810 | $5,304,691 | 14.8% | |
May | $4,401,605 | $4,696,449 | 6.7% | |
June | $3,781,858 | $5,319,290 | 40.7% | |
July | $5,119,530 | $4,895,350 | -4.4% | |
August | $5,083,166 | $4,620,654 | -9.1% | |
September | $4,172,122 | $4,116,495 | -1.3% | |
October | ||||
November | ||||
December | ||||
YTD Total | $40,706,314 | $29,551,784 | 12.2% | |
City of Midland (not adjusted for inflation) |
January | $2,046,436 | $2,572,063 | 25.7% |
April | $2,702,697 | $2,520,290 | -6.7% | |
July | $3,201,813 | $2,607,902 | -18.5% | |
October | $3,040,266 | $2,237,289 | -26.4% | |
YTD Total | $10,991,212 | $9,937,543 | -9.6% | |
Midland International Airport Passenger Enplanements |
January | 40,433 | 43,436 | 7.4% |
February | 42,886 | 45,860 | 6.9% | |
March | 50,438 | 53,544 | 6.2% | |
April | 47,827 | 50,350 | 5.3% | |
May | 53,802 | 56,348 | 4.7% | |
June | 54,747 | 58,838 | 7.5% | |
July | 52,292 | 58,126 | 11.2% | |
August | 54,149 | 57,347 | 5.9% | |
September | 47,708 | 53,424 | 12.0% | |
October | ||||
November | ||||
December | ||||
YTD Total | 444,282 | 477,273 | 7.4% | |
City of Midland (not adjusted for inflation) |
January | $50,786,609 | $120,162,955 | 136.6% |
February | $131,633,045 | $84,110,807 | -36.1% | |
March | $33,838,832 | $25,223,542 | -25.5% | |
April | $21,315,486 | $50,794,398 | 138.3% | |
May | $50,760,732 | $39,210,539 | -22.8% | |
June | $28,601,266 | $78,953,666 | 176.0% | |
July | $38,227,051 | $46,264,615 | 21.0% | |
August | $43,684,495 | $75,887,287 | 73.7% | |
September | $26,603,514 | $98,410,128 | 269.9% | |
October | ||||
November | ||||
December | ||||
YTD Total | $425,451,030 | $619,017,938 | 45.5% | |
City of Midland New Single-Family Residence Permits |
January | 74 | 48 | -35.1% |
February | 91 | 71 | -22.0% | |
March | 123 | 54 | -56.1% | |
April | 64 | 67 | 4.7% | |
May | 91 | 80 | -12.1% | |
June | 113 | 66 | -41.6% | |
July | 147 | 98 | -33.3% | |
August | 102 | 41 | -59.8% | |
September | 71 | 71 | 0.0% | |
October | ||||
November | ||||
December | ||||
YTD Total | 876 | 596 | -32.0% | |
Midland Existing Home Sales |
January | 164 | 169 | 3.0% |
February | 199 | 182 | -8.5% | |
March | 230 | 265 | 15.2% | |
April | 241 | 282 | 17.0% | |
May | 246 | 255 | 3.7% | |
June | 269 | 261 | -3.0% | |
July | 250 | 286 | 14.4% | |
August | 278 | 271 | -2.5% | |
September | 252 | 224 | -11.1% | |
October | ||||
November | ||||
December | ||||
YTD Total | 2,129 | 2,195 | 3.1% | |
Midland (not adjusted for inflation) |
January | $288,897 | $303,238 | 5.0% |
February | $307,241 | $329,136 | 7.1% | |
March | $299,435 | $344,472 | 15.0% | |
April | $321,561 | $344,595 | 7.2% | |
May | $349,794 | $349,930 | 0.0% | |
June | $339,969 | $357,518 | 5.2% | |
July | $342,018 | $361,594 | 5.7% | |
August | $297,696 | $346,573 | 16.4% | |
September | $351,366 | $318,294 | -9.4% | |
October | ||||
November | ||||
December | ||||
YTD Average | $323,718 | $342,046 | 5.7% | |
Midland (not adjusted for inflation) |
January | $47,379,123 | $51,247,239 | 8.2% |
February | $61,140,893 | $59,902,668 | -2.0% | |
March | $68,869,975 | $91,284,989 | 32.5% | |
April | $77,496,183 | $97,175,818 | 25.4% | |
May | $86,049,372 | $89,232,035 | 3.7% | |
June | $91,451,700 | $93,312,213 | 2.0% | |
July | $85,504,397 | $103,416,018 | 20.9% | |
August | $82,759,609 | $93,921,270 | 13.5% | |
September | $88,544,153 | $71,297,760 | -19.5% | |
October | ||||
November | ||||
December | ||||
YTD Total | $689,195,405 | $750,790,010 | 8.9% | |
Midland Payroll Employment per Current Employment Statistics |
January | 102,000 | 111,500 | 9.3% |
February | 103,600 | 110,000 | 6.2% | |
March | 104,700 | 109,500 | 4.6% | |
April | 106,400 | 110,000 | 3.4% | |
May | 107,700 | 110,200 | 2.3% | |
June | 108,400 | 111,300 | 2.7% | |
July | 110,100 | 111,300 | 1.1% | |
August | 110,500 | 111,800 | 1.2% | |
September | 110,700 | 111,500 | 0.7% | |
October | ||||
November | ||||
December | ||||
YTD Average | 107,122 | 110,789 | 3.4% | |
Midland Estimated Oil & Gas Employment |
January | 26,250 | 30,915 | 17.8% |
February | 27,125 | 31,055 | 14.5% | |
March | 27,595 | 31,005 | 12.4% | |
April | 28,290 | 31,365 | 10.9% | |
May | 28,640 | 31,245 | 9.1% | |
June | 29,240 | 31,175 | 6.6% | |
July | 29,915 | 31,515 | 5.3% | |
August | 30,295 | 31,680 | 4.6% | |
September | 30,285 | 31,435 | 3.8% | |
October | ||||
November | ||||
December | ||||
YTD Average | 28,626 | 31,266 | 9.2% | |
Midland Unemployment Rate |
January | 2.4 | 2.3 | -4.2% |
February | 2.3 | 2.2 | -4.3% | |
March | 2.3 | 2.1 | -8.7% | |
April | 1.9 | 1.7 | -10.5% | |
May | 2.0 | 1.7 | -15.0% | |
June | 2.3 | 2.1 | -8.7% | |
July | 2.1 | 2.2 | 4.8% | |
August | 2.1 | 2.2 | 4.8% | |
September | 2.0 | 2.0 | 0.0% | |
October | ||||
November | ||||
December | ||||
YTD Average | 2.2 | 2.1 | -4.6% |