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Economic Dashboard May 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

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

Economic conditions in La Plata County as of May 2016.

Summary
Improved (+) 6
No Change (o) 6
Declined (-) 10
Improved (Declined) (4)
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 30,201 29,915 29,988 o
  Employed 29,217 28,946 28,837 o
  Unemployment Rate (%) 3.3 3.2 3.8 +
  Labor Force Participation (%) 54.7 54.3 55.2 o
8
Construction & Housing
  New Permits (to Date)
     Durango 26 22 41
     Rest of County 58 43 61
  Value of Permits ($,000) (to Date)
     Durango 5,096 4,603 22,705
     Rest of County 32,092 24,279 16,548 +
  Home Sales 226 160 250
  Average Home Price ($) 405,235 418,695 411,374 o
Earnings Needed* ($) 62,100 64,200 66,300 +
8
Travel & Tourism
  Enplanements 14,481 12,105 14,912
  Lodgers Tax ($) 52,790 53,222 46,630 +
  Train Visitors 11,598 3,804 11,983
8
Gas & Oil
  New Permits (to date) 34 34 35
  Production (mmcf) 26,728 25,563 27,364
8
Other
Sales Tax, Durango ($,000)** 1,119 1,317 1,155
Commercial Sales ($,000) (to date) 18,305 16,810 9,390 +
Foreclosures (to date) 26 20 21
  Energy Use
     Large Industry (mwh) 33,270 31,090 31,719 +
     Other Commercial (mwh) 19,797 19,848 20,170 o
     Commercial Accounts 6,404 6,391 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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