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Economic Dashboard February 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

February 2017

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

 

Summary
Improved (+) 3
No Change (o) 6
Declined (-) 12
Improved (Declined) (9)
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 30,708 30,406 30,623 o
  Unemployment Rate (%) 3.4 3.1 3.2
  Labor Force Participation (%) 54.4 53.9 55.2 o
  Job Openings 1,422 1,478 1,734
Average Wage, Openings ($to Date) 35,527 35,0562 34,304 +
8
Construction & Housing
  New Permits (to Date) 14 6 31
  Value of Permits ($,000) (to Date) 4,984 2,216 14,953
  Home Sales 94 47 64 +
  Average Home Price ($) 501,010 567,623 397,585 +
  Earnings Needed* ($) 81,700 93,800 61,400
8
Travel & Tourism
  Enplanements 13,114 13,161 13,064 o
  Lodgers Tax ($) 31,496 70,727 37,103
  Train Visitors 1,817 1,604 2,059
8
Gas & Oil
  New Permits (to date) 2 0 21
  Production (mmcf) 23,800 25,613 24,529
8
Other
Sales Tax, Durango ($,000)** 1,057 1,794 1,062 o
Commercial Sales ($,000) (to date) 920 920 13,084
Foreclosures (to date) 11 9 6
  Energy Use
     Large Industry (mwh) 29,640 31,808 29,227 o
     Other Commercial (mwh) 19,300 24,656 20,758
     Commercial Accounts 6,359 6,351 6,342 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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