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Economic Dashboard July 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

July 2016
Economic conditions in La Plata County as of July 2016.

Economic conditions in La Plata County as of July 2016.

 

Summary
Improved (+) 12
No Change (o) 5
Declined (-) 5
Improved (Declined) 7
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,015 30,821 30,029 +
  Employed 30,042 29,702 28,958 +
  Unemployment Rate (%) 3.1 3.6 3.6 +
  Labor Force Participation (%) 56.0 55.8 55.2 o
8
Construction & Housing
  New Permits (to Date)
     Durango 35 32 61
     Rest of County 92 75 102
  Value of Permits ($,000) (to Date)
     Durango 9,130 7,469 25,727
     Rest of County 52,110 44,640 32,492 +
  Home Sales 464 324 431 +
  Average Home Price ($) 414,162 414,111 421,903 o
Earnings Needed* ($) 63,100 63,100 68,400 +
8
Travel & Tourism
  Enplanements 18,518 17,361 19,495
  Lodgers Tax ($) 131,520 79,897 120,518 +
  Train Visitors 35,451 25,836 35,167 o
8
Gas & Oil
  New Permits (to date) 79 63 56 +
  Production (mmcf) 25,302 24,642 26,917
8
Other
Sales Tax, Durango ($,000)** 1,644 1,255 1,536 +
Commercial Sales ($,000) (to date) 23,580 22,859 14,645 +
Foreclosures (to date) 31 27 32 +
  Energy Use
     Large Industry (mwh) 33,242 32,992 33,090 o
     Other Commercial (mwh) 24,375 21,250 23,420 +
     Commercial Accounts 6,397 6,404 6,351 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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