Economic Dashboard

Local Economic Conditions

Economic Dashboard May 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

May 2018

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

 

Summary
Improved (+) 11
No Change (o) 3
Declined (-) 5
Improved (Declined) 6
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,245 32,039 32,136 o
  Unemployment Rate (%) 2.1 2.3 1.9
  Labor Force Participation (%) 57.4 57.1 57.9 o
  Job Openings 881 924 2,055
8
Construction & Housing
  New Permits (to Date) 98 71 82 +
  Value of Permits ($,000) (to Date) 44,128 31,095 35,843 +
  Home Sales 299 209 310
  Average Home Price ($) 474,748 486,673 426,968 +
  Earnings Needed* ($) 84,100 85,000 70,600
8
Travel & Tourism
  Enplanements 15,449 13,734 14,651 +
  Lodgers Tax ($) 59,335 61,323 53,479 +
  Train Visitors 13,463 3,737 12,536 +
8
Gas & Oil
  New Permits (to date) 66 52 55 +
  Production (mmcf) 25,426 23,948 24,766 +
8
Other
Sales Tax, Durango ($,000)** 1,259 1,363 1,158 +
Commercial Sales ($,000) (to date) 13,698 12,153 16,723
Foreclosures (to date) 27 19 29 +
  Energy Use
     Commercial (mwh) 55,288 52,775 53,401 +
     Commercial Accounts 6,470 6,461 6,425 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)