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Economic Dashboard June 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

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

Economic conditions in La Plata County as of June 2016.

 

Summary
Improved (+) 7
No Change (o) 6
Declined (-) 9
Improved (Declined) (2)
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 30,821 30,201 30,411 o
  Employed 29,702 29,217 29,209 o
  Unemployment Rate (%) 3.6 3.3 4.0 +
  Labor Force Participation (%) 55.8 54.7 55.9 o
8
Construction & Housing
  New Permits (to Date)
     Durango 32 26 47
     Rest of County 75 58 80
  Value of Permits ($,000) (to Date)
     Durango 7,469 5,096 23,837
     Rest of County 44,640 32,092 23,143 +
  Home Sales 324 226 345
  Average Home Price ($) 414,111 405,235 427,580
Earnings Needed* ($) 63,100 62,100 70,200 +
8
Travel & Tourism
  Enplanements 17,361 14,481 17,830
  Lodgers Tax ($) 79,897 52,790 86,489
  Train Visitors 25,836 11,598 27,847
8
Gas & Oil
  New Permits (to date) 63 34 42 +
  Production (mmcf) 24,642 26,133 26,083
8
Other
Sales Tax, Durango ($,000)** 1,255 1,119 1,242 o
Commercial Sales ($,000) (to date) 22,859 18,305 13,995 +
Foreclosures (to date) 27 26 27 o
  Energy Use
     Large Industry (mwh) 32,992 33,270 30,351 +
     Other Commercial (mwh) 21,250 19,797 20,408 +
     Commercial Accounts 6,404 6,404 6,353 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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