Midland Economic Indicators

 


Midland MSA Economic Index March 2024
IndustryFebruary 2024March 2024
% Change
Energy103.8105.9+2.1
Construction174.0193.2+19.2
Manufacturing129.4127.3-2.1
Retail125.0123.3-1.7
Financial Services232.4235.3+2.9
Real Estate122,5123.8+1.3
Professional & Business Services126.5122.1-4.4
Health Care119.3120.6+1.3
Hospitality & Tourism153.6158.5+4.9
Other Activity139.0139.1+0.1
Midland Composite113.8115.6+1.8

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 March 20242022202320242023-2024 % Change
Permian Basin Rig Count315349315-9.90%
WTI Oil Price$108.50$73.28$81.28+10.92%
Henry Hub Natural Gas$4.90$2.31$1.49-35.50%
Housing Permits38N/A52N/A
Average Housing Permit Value$227,576N/A$240,519N/A
Airline Boardings39,54047,35753,943+13.91%
Hotel Receipts$9,869,396$12,428,407$12,590,716+1.31%
Employment (Seasonally Adjusted)109,300119,800122,000+1.84%
Unemployment Rate3.24%2.61%2.50%N/A
Midland Index (2021=100)113.0116.0115.6N/A