Midland Economic Indicators

 


Midland MSA Economic Index March 2022
Industry February 2022 March 2022

% Change
 

Energy

93.8

99.4 +5.8
Construction 159.4 216.0 +56.6
Manufacturing 114.6 116.2 +1.6
Retail 132.2 131.8 -0.4
Financial Services 206.5 207.8 +1.3
Real Estate 118.8 120.2 +1.4
Professional & Business Services 108.7 108.7 +0.0
Health Care 98.7 97.6 -1.1
Hospitality & Tourism 155.8 156.8 +1.0
Other Activity 121.1 121.7 +0.6
Midland Composite 103.3 108.7 +5.4

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 


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Selected Midland Economic Indicators  
Indicator (March 2022) 2020 2021 2022 2021-22 % Change
Permian Basin Rig Count 405 215 315 +46.65%
WTI Oil Price $29.21 $62.33 $108.50 +74.07%
Henry Hub Natural Gas $1.79 $2.62 $4.90 +87.02%
Housing Permits 158 79 38 N/A
Average Housing Permit Value $178,500 $208,600 $227,600 +9.11%
Housing Listings 717 713 530 N/A
Median Housing Listing Price $315,000 $295,000 $325,000 +10.17%
Airline Boardings 47,009 22,899 39,540 +72.67%
Hotel Receipts $8,171,677 $8,184,167 $9,942,719 +21.49%
Employment (Seasonally Adjusted) 113,400 99,000 105,800 +6.87%
Unemployment Rate 3.57% 6.66% 3.50% N/A
Midland Index (2021=100) 106.98 91.92 108.71 +18.26%