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Permian Basin Economy Sluggish, Job Loss Halts

Though the economy in the Permian Basin of West Texas remains recession-mired, some lights at the end of the tunnel include job market stability and slowly expanding oil rig counts. In June, total non-farm employment was 159,500, an increase of 500 from May, though the unemployment rate was 5.2%, according to data from the Federal Reserve Bank of Dallas.

Despite the energy downturn, Midland’s average weekly wages stood at $1,252, above the state average of $1,035 during the first quarter of this year. Odessa’s average wages were $1,007. Though permits for single-family construction continue trending downward, the decline has slowed.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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