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Economic Dashboard December 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

December 2016

Economic conditions in La Plata County from December 2012 to 2016.

 

Summary
Improved (+) 10
No Change (o) 3
Declined (-) 9
Improved (Declined) 1
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 29,699 30,520 30,604
  Employed 28,967 29,579 29,690
  Unemployment Rate (%) 2.5 2.3 3.0 +
  Labor Force Participation (%) 52.8 53.9 55.3
8
Construction & Housing
  New Permits (to Date)
     Durango 68 63 97
     Rest of County 183 172 141 +
  Value of Permits ($,000) (to Date)
     Durango 21,977 20,716 37,676
     Rest of County 100,211 93,673 49,755 +
  Home Sales 846 787 710 +
  Average Home Price ($) 454,967 454,233 423,951 +
Earnings Needed* ($) 75,100 72,800 68,300
8
Travel & Tourism
  Enplanements 15,196 15,018 15,100 o
  Lodgers Tax ($) 39,756 126,123 36,624 +
  Train Visitors 27,878 3,024 23,980 +
8
Gas & Oil
  New Permits (to date) 91 90 106
  Production (mmcf) 24,870 24,660 25,907
8
Other
Sales Tax, Durango ($,000)** 1,192 1,325 1,157 +
Commercial Sales ($,000) (to date) 34,241 31,963 28,936 +
Foreclosures (to date) 61 54 67 +
  Energy Use
     Large Industry (mwh) 31,669 31,625 31,632 o
     Other Commercial (mwh) 26,542 22,860 27,458
     Commercial Accounts 6,352 6,355 6,341 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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