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Economic Dashboard October 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

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

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

 

Summary
Improved (+) 11
No Change (o) 3
Declined (-) 8
Improved (Declined) 3
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 30,520 30,142 29,669 +
  Employed 29,713 29,392 28,813 +
  Unemployment Rate (%) 2.6 2.5 2.9 +
  Labor Force Participation (%) 54.4 53.8 53.8 o
8
Construction & Housing
  New Permits (to Date)
     Durango 53 50 86
     Rest of County 154 139 133 +
  Value of Permits ($,000) (to Date)
     Durango 17,245 16,116 34,930
     Rest of County 83,899 76,487 47,902 +
  Home Sales 713 614 632 +
  Average Home Price ($) 452,777 435,908 425,446 +
Earnings Needed* ($) 69,600 66,000 66,900
8
Travel & Tourism
  Enplanements 17,440 18,073 16,988 +
  Lodgers Tax ($) 132,465 133,870 139,181
  Train Visitors 17,716 24,133 16,202 +
8
Gas & Oil
  New Permits (to date) 84 84 86
  Production (mmcf) 25,812 25,349 27,038
8
Other
Sales Tax, Durango ($,000)** 1,527 1,521 1,599
Commercial Sales ($,000) (to date) 28,955 27,169 26,427 +
Foreclosures (to date) 46 42 51 +
  Energy Use
     Large Industry (mwh) 32,143 32,143 35,481
     Other Commercial (mwh) 22,149 21,861 21,864 o
     Commercial Accounts 6,353 6,384 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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