Odessa, TX's Data
About Odessa, TX's
Odessa is a vibrant city located in Ector County, Texas, with a small portion extending into Midland County. Founded in 1881 as a water stop and cattle-shipping point on the Texas and Pacific Railway, the city has grown significantly, especially after the discovery of oil in the Permian Basin in the 1920s. This event transformed Odessa into a major hub in the petroleum industry. The city's name was inspired by the Ukrainian port city of the same name, reflecting the area's shortgrass prairie that resembled Ukraine's steppe landscape.
Things To Do in Odessa, TX
Hike: Here are a couple of local trails to check out!
Local Attractions in Odessa, TX
Ellen Noel Art Museum - A cultural center featuring diverse art collections, educational programs, and rotating exhibitions.
Stonehenge Replica - A striking full-scale replica of the original Stonehenge in England, located at the University of Texas of the Permian Basin campus.
Presidential Archives and Leadership Library - Dedicated to the study of the American presidency, housing documents and memorabilia of U.S. presidents.
Odessa Meteor Crater - An internationally known geological site, this is one of the best-preserved meteorite craters on earth.
Jack Ben Rabbit Statue - An iconic giant rabbit statue, symbolizing Odessa's playful spirit and community pride.
The Economy of Odessa, TX
The economy of Odessa is primarily driven by the oil and gas industry, which has been the backbone of the region since the early 20th century. The city's economic landscape features a mix of energy, technology, and services. Despite the boom-and-bust nature of the oil market, Odessa has diversified its economy with investments in healthcare, education, and retail. The presence of major oil corporations has spurred growth in related sectors, including construction, transportation, and manufacturing.
Odessa, TX Inflation
Understanding the BLS and Inflation in Odessa, TX
The Bureau of Labor Statistics (BLS) is a government agency that collects and analyzes economic data across the U.S., including cities like Odessa, TX. One of its key responsibilities is tracking inflation through the Consumer Price Index (CPI), which measures how the cost of everyday goods and services changes over time. Inflation can impact everything from housing prices to the cost of groceries, gas, and utilities across the area. By tracking inflation, the BLS helps people from Odessa, TX understand how their purchasing power is affected and provides insights for businesses and policymakers.
What This Graph Represents
This graph shows inflation trends in Odessa, TX using the CPI, highlighting how prices have changed over time. The x-axis represents time (months and years), while the y-axis represents price levels. If the graph moves upward, it means the cost of living is rising, which can affect everything from rent to gas prices. A flatter or downward trend suggests that inflation is stabilizing or decreasing. Keeping an eye on inflation is important for people from Odessa, TX when budgeting for housing, wages, and daily expenses. You can hover over the graph to see exact values for each month and check the "Most Recently Updated" label to ensure you’re viewing the latest available data.
Company Recall Data in Odessa, TX
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