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Economic Dashboard August 2016


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

August 2016

dashboard_aug16

Summary
Improved (+) 12
No Change (o) 4
Declined (-) 6
Improved (Declined) 6
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,209 31,015 29,790 +
  Employed 30,304 30,042 28,805 +
  Unemployment Rate (%) 2.9 3.1 3.3 +
  Labor Force Participation (%) 56.3 56.0 54.7 +
8
Construction & Housing
  New Permits (to Date)
     Durango 38 35 68
     Rest of County 111 92 115
  Value of Permits ($,000) (to Date)
     Durango 9,536 9,130 32,092
     Rest of County 60,526 52,110 41,088 +
  Home Sales 544 464 519 +
  Average Home Price ($) 439,102 414,162 417,328 +
Earnings Needed* ($) 66,100 63,100 66,600 o
8
Travel & Tourism
  Enplanements 18,384 18,518 18,867
  Lodgers Tax ($) 169,759 131,520 163,167 +
  Train Visitors 26,042 35,451 25,171 +
8
Gas & Oil
  New Permits (to date) 79 79 60 +
  Production (mmcf) 25,906 25,722 27,606
8
Other
Sales Tax, Durango ($,000)** 1,512 1,644 1,536 o
Commercial Sales ($,000) (to date) 30,890 23,580 17,841 +
Foreclosures (to date) 38 31 36 +
  Energy Use
     Large Industry (mwh) 32,319 33,242 32,661 o
     Other Commercial (mwh) 23,047 24,375 23,930
     Commercial Accounts 6,402 6,397 6,360 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)

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