Midland Economic Indicators
| Midland MSA Economic Index January 2024 | |||
|---|---|---|---|
| Industry | December 2023 | January 2024 | % Change |
| Energy | 103.1 | 102.5 | -0.6 |
| Construction | 169.4 | 158.3 | -11.1 |
| Manufacturing | 126.4 | 125.1 | -1.3 |
| Retail | 125.6 | 122.8 | -2.8 |
| Financial Services | 226.7 | 229.4 | +2.7 |
| Real Estate | 119.2 | 115.8 | -3.4 |
| Professional & Business Services | 125.3 | 125.7 | +0.4 |
| Health Care | 120.8 | 120.7 | -0.1 |
| Hospitality & Tourism | 157.4 | 157.0 | -0.4 |
| Other Activity | 137.8 | 137.3 | -0.5 |
| Midland Composite | 112.8 | 111.8 | -1.0 |
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 January 2024 | 2022 | 2023 | 2024 | 2023-2024 % Change |
| Permian Basin Rig Count | 293 | 355 | 309 | -12.90% |
| WTI Oil Price | $83.22 | $78.12 | $74.12 | -5.08% |
| Henry Hub Natural Gas | $4.38 | $3.27 | $3.18 | -2.75% |
| Housing Permits | 57 | 29 | 49 | N/A |
| Average Housing Permit Value | $196,600 | $288,400 | $240,500 | -16.61% |
| Airline Boardings | 52,239 | 61,870 | N/A | N/A |
| Hotel Receipts | $8,775,584 | $10,916,439 | $10,592,760 | -2.97% |
| Employment (Seasonally Adjusted) | 107,700 | 119,439 | 120,800 | +1.51% |
| Unemployment Rate | 3.63% | 2.61% | 2.42% | N/A |
| Midland Index (2021=100) | 105.10 | 115.46 | 111.83 | N/A |