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Economic Dashboard January 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

January 2017

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

 

Summary
Improved (+) 5
No Change (o) 5
Declined (-) 11
Improved (Declined) (6)
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 30,406 29,699 30,630 o
  Unemployment Rate (%) 3.2 2.5 3.0
  Labor Force Participation (%) 54.0 52.8 55.4
  Job Openings 1,478 1,393 1,552
Average Wage, Openings ($to Date) 35,056 36,022 34,092 +
8
Construction & Housing
  New Permits (to Date) 6 251 17
  Value of Permits ($,000) (to Date) 2,216 122,188 10,703
  Home Sales 47 846 35 +
  Average Home Price ($) 567,623 454,967 388,532 +
  Earnings Needed* ($) 93,800 75,100 61,100
8
Travel & Tourism
  Enplanements 13,161 15,196 13,437
  Lodgers Tax ($) 70,727 39,756 56,268 +
  Train Visitors 1,604 27,878 2,004
8
Gas & Oil
  New Permits (to date) 0 91 9
  Production (mmcf) 25,613 25,665 26,088 o
8
Other
Sales Tax, Durango ($,000)** 1,794 1,192 1,713 +
Commercial Sales ($,000) (to date) 920 34,241 2,410
Foreclosures (to date) 9 61 3
  Energy Use
     Large Industry (mwh) 31,808 31,669 31,854 o
     Other Commercial (mwh) 24,656 26,542 24,782 o
     Commercial Accounts 6,351 6,352 6,347 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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