News Summary

Midland continues to demonstrate economic stability with its unemployment rate at 3%, the lowest in Texas. The metropolitan area has seen a growth in the labor force and an increase in job count, with significant contributions from various sectors. Over the past year, Midland added 2,700 jobs, while Texas also reported overall job growth. Moreover, infrastructure improvements are needed to sustain this growth amid rising demand. The future looks promising for job seekers and the local economy.

Midland’s Unemployment Rate Steady at 3%: Job Growth Brings Hope

Well, folks, it looks like Midland is holding strong! As of June, Midland’s metropolitan statistical area (MSA), which includes Midland and Martin counties, has maintained a solid unemployment rate of 3%. That’s the same as it was in May and just a whisker below last year’s rate of 3.1%. Talk about stability!

In fact, Midland boasts the lowest unemployment rate in Texas! When compared to Amarillo and San Angelo, both of which are sitting at 3.1%, Midland is a shining star. Meanwhile, Odessa saw a little bump in its unemployment rate, creeping up to 3.6% in June from 3.5% in May. However, when you look back a year, it was 3.8%, so that’s still a plus!

Labor Force Grows, Number of Jobs Increases

In June, Midland’s civilian labor force took a little step up, reaching 106,191. That’s not just a tiny increase, as it was 105,642 in May and a good bit bigger than last June when it was at 103,508. Even more exciting is that the number of employed individuals in Midland rose to 103,020, up from 102,490 last month and a hefty climb from last year’s count of 100,248.

Now, while the number of unemployed folks did see a slight rise to 3,171 from 3,152 in May, the year-over-year comparison is promising since it’s down from last year’s count of 3,260. So, things are indeed looking up!

Job Count Sees Significant Boost

Midland’s total nonfarm job count is shining bright too, with an increase of 500 jobs in June, bringing the total to 127,400. The Mining, Logging, and Construction sector and the Trade, Transportation, and Utilities sector each added 300 new jobs, while the Financial Activities and Leisure and Hospitality sectors kicked in an additional 100 jobs each. However, it’s worth noting that a few sectors, including Professional and Business Services, Private Education and Health Services, and Government lost 100 jobs each.

When we take a step back and look at the bigger picture over the past year, Midland has added 2,700 jobs with a growth rate of 2.2%. The Private Education and Health Services sector took the lead, adding 1,400 new positions, followed by Trade, Transportation, and Utilities with 500 new jobs and Leisure and Hospitality chipping in with 300.

Texas on the Rise!

On a broader scale, the state of Texas is doing quite well too! The civilian labor force hit an impressive high of 15,850,100, following an increase of 10,800 people in June. Over the past year, Texas has added 198,300 jobs, totaling 14,329,200 nonfarm jobs despite a slight dip of 1,900 jobs this month. The statewide unemployment rate is now reported at 4%, down from 4.1% in May.

Interestingly, while some areas are thriving, Eagle Pass has the highest unemployment rate in the state at a staggering 9.6%.

Looking Ahead: A Glimpse into the Future

As for Midland, the future looks bright but there are concerns about long-term infrastructure needing improvement due to the potential demand from continued job growth. The natural resources and mining sector also played a significant role, contributing an impressive $1.22 billion in wages in the fourth quarter of 2024. And let’s not forget the Midland International Air and Space Port, which has seen an increase in business travelers, signaling good news for the local economy.

So, whether you’re a job seeker or just someone who loves to keep an eye on the local economic scene, there’s lots to feel optimistic about here in Midland!

Midland Maintains Steady 3% Unemployment Rate Amid Job Growth