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Economic Dashboard June 2014


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

June 2014
Durango and La Plata County Economic Conditions as of June 2014

Durango and La Plata County Economic Conditions as of June 2014

Summary
Improved (+) 8
No Change (o) 0
Declined (-) 8
Improved (Declined) 0
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,044 31,493 30,935 +
  Employed 30,679 30,147 29,117 +
  Unemployment Rate (%) 4.3 4.3 5.9 +
  Labor Force Participation (%) 58.8 57.8 57.9 o
8
Construction & Housing
  New Permits (to Date)
     Durango 39 33 37 +
     Rest of County 68 54 74 -
  Value of Permits ($,000) (to Date)
     Durango 9,248 8,237 18,498 -
     Rest of County 17,680 16,514 18,425 -
  Home Sales 323 251 333 -
  Average Home Price ($) 415,511 406,620 385,537 +
Earnings Needed* ($) 70,300 68,800 63,700 -
8
Travel & Tourism
  Enplanements 18,347 15,449 18,159 o
  Lodgers Tax ($) 83,298 47,044 74,270 +
  Train Visitors 22,841 11,393 23,461 -
8
Gas & Oil
  New Permits (Year-to-date) 37 35 5 +
  Production (mmcf) 27,877 28,088 28,672 -
8
Other
  Sales Tax, Durango ($,000)** 1,185 1,087 1,174 o
  Energy Use
     Large Industry (mwh) 32,307 35,896 31,373 +
     Other Commercial (mwh) 20,672 19,352 21,877 -
     Commercial Accounts 6,303 6,299 6,230 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), and LPEA (Energy Use)

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