info@yeslpc.com • 970-259-1700

Economic Dashboard May 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

May 2017

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

 

Summary
Improved (+) 10
No Change (o) 5
Declined (-) 6
Improved (Declined) 4
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,122 31,029 30,201 +
  Unemployment Rate (%) 2.1 1.9 3.3 +
  Labor Force Participation (%) 56.7 54.8 54.2 +
  Job Openings 2,039 1,863 2,590
Average Wage, Openings ($to Date) 35,682 36,473 32,843 +
8
Construction & Housing
  New Permits (to Date) 75 51 84
  Value of Permits ($,000) (to Date) 37,528 25,818 37,188 o
  Home Sales 310 219 226 +
  Average Home Price ($) 426,928 432,435 405,235 +
  Earnings Needed* ($) 68,400 70,100 62,100
8
Travel & Tourism
  Enplanements 14,651 12,370 14,481 o
  Lodgers Tax ($) 53,479 55,983 52,790 o
  Train Visitors 12,536 4,049 11,598 +
8
Gas & Oil
  New Permits (to date) 55 47 34 +
  Production (mmcf) 24,072 21,544 26,133
8
Other
Sales Tax, Durango ($,000)** 1,158 1,287 1,119 +
Commercial Sales ($,000) (to date) 16,723 7,040 18,305
Foreclosures (to date) 29 22 26
  Energy Use
     Large Industry (mwh) 33,069 30,816 33,270 o
     Other Commercial (mwh) 20,332 19,996 19,797 +
     Commercial Accounts 6,425 6,420 6,404 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)

image_print