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Economic Dashboard July 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

July 2017

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

 

Summary
Improved (+) 10
No Change (o) 3
Declined (-) 8
Improved (Declined) 2
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,986 32,619 31,015 +
  Unemployment Rate (%) 2.1 2.2 3.1 +
  Labor Force Participation (%) 58.0 57.5 55.5 +
  Job Openings 2,166 1,729 2,212
Average Wage, Openings ($to Date) 35,048 35,604 32,113 +
8
Construction & Housing
  New Permits (to Date) 142 116 130 +
  Value of Permits ($,000) (to Date) 75,219 62,366 63,195 +
  Home Sales 476 399 464 +
  Average Home Price ($) 433,349 428,348 414,162 +
  Earnings Needed* ($) 69,400 67,800 63,100
8
Travel & Tourism
  Enplanements 18,499 16,896 18,518 o
  Lodgers Tax ($) 144,637 91,575 131,520 +
  Train Visitors 36,542 27,467 35,451 +
8
Gas & Oil
  New Permits (to date) 62 56 79
  Production (mmcf) 23,747 23,794 25,722
8
Other
Sales Tax, Durango ($,000)** 1,620 1,350 1,644 o
Commercial Sales ($,000) (to date) 17,631 17,298 23,580
Foreclosures (to date) 36 34 31
  Energy Use
     Large Industry (mwh) 31,709 31,708 33,242
     Other Commercial (mwh) 22,208 21,554 24,375
     Commercial Accounts 6,423 6,426 6,397 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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