Economic Dashboard

Local Economic Conditions

Economic Dashboard June 2018

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 2018

Economic conditions in La Plata County from June 2014 to June 2018.

 

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

Change

(vs Last Year)

Workforce
  Labor Force 32,625 32,245 32,619 o
  Unemployment Rate (%) 2.7 2.1 2.1
  Labor Force Participation (%) 58.0 57.4 58.7 o
  Job Openings 1,008 881 1,729
8
Construction & Housing
  New Permits (to Date) 126 98 115 +
  Value of Permits ($,000) (to Date) 66,560 44,128 57,495 +
  Home Sales 384 299 399
  Average Home Price ($) 476,687 474,748 428,348 +
  Earnings Needed* ($) 84,300 84,100 69,900
8
Travel & Tourism
  Enplanements 17,724 15,449 16,896 +
  Lodgers Tax ($) 99,671 59,335 91,575 +
  Train Visitors 1,200 13,463 27,467
8
Gas & Oil
  New Permits (to date) 76 66 56 +
  Production (mmcf) 24,370 25,126 23,794 +
8
Other
Sales Tax, Durango ($,000)** 1,432 1,259 1,350 +
Commercial Sales ($,000) (to date) 17,298 13,698 17,298 o
Foreclosures (to date) 32 27 34 +
  Energy Use
     Commercial (mwh) 54,896 55,288 53,385 +
     Commercial Accounts 6,471 6,470 6,426 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)