Midland Economic Indicators
| Midland MSA Economic Index February 2024 | |||
|---|---|---|---|
| Industry | January 2024 | February 2024 | % Change |
| Energy | 103.1 | 103.8 | +0.7 |
| Construction | 158.8 | 176.4 | +17.6 |
| Manufacturing | 127.5 | 129.5 | +2.0 |
| Retail | 123.7 | 125.0 | +1.3 |
| Financial Services | 229.4 | 232.5 | +3.2 |
| Real Estate | 114.8 | 122.5 | +7.7 |
| Professional & Business Services | 124.7 | 126.3 | +1.6 |
| Health Care | 119.7 | 119.1 | -0.6 |
| Hospitality & Tourism | 156.9 | 153.9 | -3.0 |
| Other Activity | 138.0 | 139.0 | +1.0 |
| Midland Composite | 112.3 | 113.7 | +1.4 |
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 February 2024 | 2022 | 2023 | 2024 | 2023-2024 % Change |
| Permian Basin Rig Count | 303 | 353 | 313 | -11.42% |
| WTI Oil Price | $91.64 | $76.83 | $77.25 | +0.55% |
| Henry Hub Natural Gas | $4.69 | $2.38 | $1.72 | -27.73% |
| Housing Permits | 55 | 39 | 85 | N/A |
| Average Housing Permit Value | $202,800 | $242,600 | $256,100 | +5.56% |
| Airline Boardings | 35,843 | 45,351 | 48,493 | +6.93% |
| Hotel Receipts | $6,993,724 | $10,935,051 | $11,153,945 | +2.00% |
| Employment (Seasonally Adjusted) | 108,600 | 119,100 | 121,500 | +2.02% |
| Unemployment Rate | 3.44% | 2.67% | 2.48% | N/A |
| Midland Index (2021=100) | 107.87 | 115.45 | 113.75 | N/A |