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Economic Dashboard March 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

March 2017

Economic conditions in La Plata County from March 2013 to 2017

 

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

Change

(vs Last Year)

Workforce
  Labor Force 30,721 30,708 30,340 o
  Unemployment Rate (%) 2.3 3.2 3.3 +
  Labor Force Participation (%) 54.3 54.4 54.6 o
  Job Openings 1,807 1,422 2,088
Average Wage, Openings ($to Date) 36,315 35,527 34,384 +
8
Construction & Housing
  New Permits (to Date) 22 14 47
  Value of Permits ($,000) (to Date) 9,770 4,984 22,041
  Home Sales 158 94 109 +
  Average Home Price ($) 415,063 501,010 402,237 +
  Earnings Needed* ($) 68,600 81,700 63,200
8
Travel & Tourism
  Enplanements 15,901 13,144 14,632 +
  Lodgers Tax ($) 38,893 31,496 35,299 +
  Train Visitors 4,397 1,817 4,627
8
Gas & Oil
  New Permits (to date) 2 2 30
  Production (mmcf) 25,142 23,303 26,430
8
Other
Sales Tax, Durango ($,000)** 1,068 1,057 1,034 +
Commercial Sales ($,000) (to date) 3,950 920 14,863
Foreclosures (to date) 19 11 15
  Energy Use
     Large Industry (mwh) 31,926 29,640 33,082
     Other Commercial (mwh) 20,792 19,300 19,961 +
     Commercial Accounts 6,368 6,359 6,346 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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