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Economic Dashboard November 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

November 2016

Economic conditions in La Plata County from November 2012 to 2016.

 

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

Change

(vs Last Year)

Workforce
  Labor Force 30,520 30,520 29,669 o
  Employed 29,713 29,713 28,813 o
  Unemployment Rate (%) 2.3 2.6 2.9 +
  Labor Force Participation (%) 53.9 54.4 54.3 o
8
Construction & Housing
  New Permits (to Date)
     Durango 63 53 92
     Rest of County 172 154 140 +
  Value of Permits ($,000) (to Date)
     Durango 20,716 17,245 36,120
     Rest of County 93,673 83,899 49,069 +
  Home Sales 787 713 666 +
  Average Home Price ($) 454,233 452,777 424,741 +
Earnings Needed* ($) 72,800 69,400 68,500
8
Travel & Tourism
  Enplanements 15,018 17,440 13,706 +
  Lodgers Tax ($) 126,123 132,465 87,360 +
  Train Visitors 3,024 17,716 5,712
8
Gas & Oil
  New Permits (to date) 90 84 98
  Production (mmcf) 24,660 26,248 25,763
8
Other
Sales Tax, Durango ($,000)** 1,325 1,527 1,256 +
Commercial Sales ($,000) (to date) 31,963 28,955 26,652 +
Foreclosures (to date) 54 46 54 o
  Energy Use
     Large Industry (mwh) 31,625 32,196 31,836 o
     Other Commercial (mwh) 22,860 22,149 23,315
     Commercial Accounts 6,355 6,353 6,339 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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