Midland Economic Indicators

 


Midland MSA Economic Index July 2022
Industry June 2022 July 2022

% Change
 

Energy

104.5

100.6 -3.9
Construction 202.2 170.8 -31.4
Manufacturing 118.0 119.8 +1.9
Retail 127.7 127.8 +0.2
Financial Services 206.8 209.8 +3.0
Real Estate 131.9 137.3 +5.4
Professional & Business Services 109.0 110.0 +1.0
Health Care 97.2 97.8 +0.5
Hospitality & Tourism 154.3 156.1 +1.8
Other Activity 122.3 120.4 -1.9
Midland Composite 112.6 109.5 -3.1

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 (July 2022) 2020 2021 2022 2021-22 % Change
Permian Basin Rig Count 125 239 350 +46.12%
WTI Oil Price $40.71 $72.49 $101.62 +40.18%
Henry Hub Natural Gas $1.77 $3.84 $7.28 +89.58%
Housing Permits 42 60 49 N/A
Average Housing Permit Value $191,000 $215,300 $203,900 -5.29%
Housing Listings 878 745 679 N/A
Median Housing Listing Price $300,000 $315,000 $327,000 +3.81%
Airline Boardings 17,693 47,673 58,713 +23.16%
Hotel Receipts $4,880,800 $7,939,068 $11,666,210 +46.95%
Employment (Seasonally Adjusted) 90,700 101,900 106,900 +4.91%
Unemployment Rate 11.73% 5.60% 3.52% N/A
Midland Index (2021=100) 79.6 97.5 109.5 N/A