Economic Dashboard

Local Economic Conditions

Economic Dashboard October 2017

How is the economy right now in Durango and La Plata County?

Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.

Local Economic Conditions

October 2017

Economic conditions in La Plata County from October 2013 to October 2017.

 

Summary
Improved (+) 9
No Change (o) 4
Declined (-) 8
Improved (Declined) 1
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,773 32,196 30,520 +
  Unemployment Rate (%) 2.2 1.9 2.6 +
  Labor Force Participation (%) 57.4 56.5 54.4 +
  Job Openings 1,723 1,698 2,151
Average Wage, Openings ($to Date) 34,386 34,336 32,265 +
8
Construction & Housing
  New Permits (to Date) 249 207 207 +
  Value of Permits ($,000) (to Date) 148,274 104,409 101,144 +
  Home Sales 721 644 713 o
  Average Home Price ($) 439,964 438,935 452,777
  Earnings Needed* ($) 71,800 70,800 70,000
8
Travel & Tourism
  Enplanements 17,451 17,373 17,440 o
  Lodgers Tax ($) 149,761 142,099 132,465 +
  Train Visitors 13,696 24,164 17,716
8
Gas & Oil
  New Permits (to date) 103 93 84 +
  Production (mmcf) 24,456 23,973 26,317
8
Other
Sales Tax, Durango ($,000)** 1,631 1,510 1,527 +
Commercial Sales ($,000) (to date) 27,558 26,208 28,955
Foreclosures (to date) 49 46 46
  Energy Use
     Large Industry (mwh) 32,794 31,150 32,196 o
     Other Commercial (mwh) 20,305 20,462 22,149
     Commercial Accounts 6,408 6,424 6,353 o

Notes:

*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.

**Sales tax for Durango includes Use Tax.

Sources: Employment: Colorado Department of Labor and US Census Construction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group  Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad   Gas & Oil: Colorado Oil & Gas Conservation Commission  Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures),  and LPEA (Energy Use) (LPEA data is unaudited)