May 2026
Amarillo's economy remains strong with higher retail sales, more home building and good commodity prices, even as we face less job growth, inflation from the war, and continued drought.
Our Employment numbers are current for the 1st time since last Fall's government shutdown. The Employer's Survey shows a decrease of 654 jobs, and the Household Survey shows a decrease of 1,525 jobs. The Unemployment Rate is 3.20%, up from 2.70% 12 months ago.
Wages are up 12% from last May. Retail Sales are up 13% from 12 months ago. Year to Date Sales are up 10%. New Car Sales are flat with a year ago, and Used Car Sales are down just 2%.
The Hotel/Motel Tax Collections are up 23%, driven mostly by Data Center employees. Airline Boardings are up 2%.
Building Permits are up 64% from 12 months ago. New apartment construction is a big driver of the building. There are twice as many Residential Starts -53- this month than last May. Year-to-Date Residential Starts are up 53%.
Oil still hovers around $100 due to the Iran War. There are 3 drilling rigs operating in the Panhandle and natural gas prices are down 19% from last May.
Cattle prices are still at an all-time high, despite browbeating from Washington DC. The rebuilding of the cow herd has some room to run. Milk Prices are down 7% from a year ago, and the Beef Cross Day-Old market is helping boost profits. Irrigated Wheat is barely coming in and was mostly grazed out. There is no dryland crop in the Panhandle. Prices are up 8%. Corn is being planted during the drought. Prices are up 13%, but rain in the next few weeks will determine planted acres.
See our attached white paper on Data Center Construction.
Economic Pulse
| Economic Components | Current Month | Last Month | Last Year |
|---|---|---|---|
| Index (Base Jan. 88 @ 100) | 233.16 | 231.70 | 201.12 |
| Sales Tax Collections | $ 11,198,931 | $ 8,351,586 | $ 9,900,477 |
| Sales Tax Collection-YTD | $ 48,786,602 | $ 37,388,953 | $ 44,289,430 |
| New Vehicle Sales | 701 | 654 | 706 |
| Used Vehicle Sales | 1,545 | 1,691 | 1,581 |
| Airline Boardings | 33,299 | 32,132 | 32,545 |
| Hotel/Motel Receipt Tax | $ 1,018,264 | $ 674,413 | $ 830,522 |
| Population - Corporate Amarillo | 201,106 | 201,106 | 201,106 |
| Employment - CLF | 139,861 | 139,207 | 140,701 |
| Unemployment Rate | % 3.20 | % 3.40 | % 2.70 |
| Total Workers Employed (Household Survey) | 135,363 | 134,473 | 136,888 |
| Total Workers Employed (Employers Survey) | 130,800 | 130,146 | 131,454 |
| Average Weekly Wages | $ 1,203.00 | $ 1,102.00 | $ 1,071.00 |
| Gas Meters | 70,098 | 70,387 | 70,160 |
| Interest Rates: 30 Year Mortgage Rates | % 6.625 | % 6.250 | % 6.625 |
| Building Permits Dollar Amount | $ 53,936,791 | $ 33,155,996 | $ 32,860,687 |
| Year to Date Permits | $ 193,568,781 | $ 146,494,847 | $ 142,323,046 |
| Residential Starts | 53 | 71 | 26 |
| Year To Date Starts | 198 | 146 | 129 |
| Median House Sold Price | $ 269,000 | $ 255,000 | $ 250,000 |
| Drilling Rigs In Panhandle | 3 | 4 | 1 |
| Oil Price Per Barrel | $ 102.62 | $ 93.60 | $ 63.18 |
| Natural Gas | $ 2.88 | $ 2.61 | $ 3.55 |
| Wheat Per Bushel | $ 6.74 | $ 5.84 | $ 6.23 |
| Fed Cattle Per CWT | $ 260.00 | $ 248.00 | $ 215.00 |
| Corn Per Bushel | $ 4.90 | $ 4.44 | $ 4.35 |
| Cotton (Cents Per Pound) | $ 83.00 | $ 72.34 | $ 61.00 |
| Milk | $ 17.43 | $ 16.98 | $ 18.71 |
Prepare for the majestic dance of disclaimers!
This document was prepared by Amarillo National Bank on behalf of itself for distribution in Amarillo, Texas and is provided for informational purposes only. The information, opinions, estimates and forecasts contained herein relate to specific dates and are subject to change without notice due to market and other fluctuations. The information, opinions, estimates and forecasts contained in this document have been gathered or obtained from public sources believed to be accurate, complete and/or correct. The information and observations contained herein are solely statements of opinion and not statements of fact or recommendations to purchase, sell or make any other investment decisions.
Economic Pulse Charts
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2026 Economic Analysis
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2025 Economic Analysis
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2024 Economic Analysis
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2023 Economic Analysis
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