Midland Economic Indicators
| Midland MSA Economic Index March 2023 | |||
|---|---|---|---|
| Industry | February 2023 | March 2023 |
% Change |
| Energy |
105.8 |
104.7 | -1.1 |
| Construction | 163.5 | 208.3 | +44.8 |
| Manufacturing | 144.9 | 147.9 | +3.0 |
| Retail | 128.3 | 125.8 | -2.5 |
| Financial Services | 206.6 | 207.4 | +0.8 |
| Real Estate | 113.1 | 115.6 | +2.5 |
| Professional & Business Services | 124.7 | 122.3 | -2.4 |
| Health Care | 107.9 | 108.4 | +0.5 |
| Hospitality & Tourism | 154.8 | 156.1 | +1.3 |
| Other Activity | 130.6 | 131.4 | +0.2 |
| Midland Composite | 114.0 | 114.2 | +0.2 |
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 2023) | 2021 | 2022 | 2023 | 2022-2023 % Change |
| Permian Basin Rig Count | 215 | 315 | 349 | +10.85% |
| WTI Oil Price | $62.33 | $108.50 | $73.28 | -32.46% |
| Henry Hub Natural Gas | $2.62 | $4.90 | $2.31 | -52.86% |
| Housing Permits | 79 | 38 | - | N/A |
| Average Housing Permit Value | $208,600 | $227,600 | - | N/A |
| Housing Listings | 705 | 495 | 468 | N/A |
| Median Housing Listing Price | $295,000 | $325,000 | $345,00 | +6.15% |
| Airline Boardings | 22,899 | 39,540 | 47,357 | +19.77% |
| Hotel Receipts | $8,184,167 | $9,869,396 | $12,436,740 | +26.01% |
| Employment (Seasonally Adjusted) | 99,200 | 109,300 | 119,000 | +8.87% |
| Unemployment Rate | 6.70% | 3.26% | 2.69% | N/A |
| Midland Index (2021=100) | 92.7 | 112.6 | 114.2 | N/A |