Midland Employment Growth

Midland Employment Growth

MIDLAND – Midland has been ranked number one for employment growth and named the fastest-growing economy in the country for the second year in a row, according to IHS Global Insight, a global think tank.

Midland’s gross metro product (GMP) grew 7.5 percent in 2013, and had previously grown 14.4 percent in 2012 when compared to 2011. “The GMP is sort of the equivalent of GDP, just at the metro level,” said Ana Orozco, a principle economist with IHS.

About 6.3 percent more jobs were created in 2013 compared to 2012, the largest percent change in any city in the country.

In 2014, Midland’s projected GMP is 3.9 percent, which would make it the tenth best in the country. As far as job growth goes, Midland is expected to see a 3.4 percent increase during 2014.

Odessa is ranked second in both the real GMP, with a 6.7 percent increase, and highest year-over-year employment growth. In 2014, Odessa is anticipated to have a 3.1 percent gain in GMP and a 2.5 percent increase in job growth.

Colo.-based IHS Global Insight uses data from the United States Bureau of Economic Analysis.

Read more at the Midland Reporter-Telegram.

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