Economic Dashboard

Local Economic Conditions

Economic Dashboard March 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

March 2018

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

 

Summary
Improved (+) 10
No Change (o) 2
Declined (-) 7
Improved (Declined) 3
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,381 31,411 30,750 +
  Unemployment Rate (%) 3.0 3.3 2.2
  Labor Force Participation (%) 56.0 56.1 55.4 o
  Job Openings 881 975 1,807
8
Construction & Housing
  New Permits (to Date) 52 33 33 +
  Value of Permits ($,000) (to Date) 18,655 10,836 12,002 +
  Home Sales 148 91 158
  Average Home Price ($) 476,352 467,440 415,063 +
  Earnings Needed* ($) 82,900 80,300 69,600
8
Travel & Tourism
  Enplanements 15,201 12,588 15,901
  Lodgers Tax ($) 42,056 34,185 38,893 +
  Train Visitors 4,676 1,856 4,397 +
8
Gas & Oil
  New Permits (to date) 47 35 2 +
  Production (mmcf) 23,010 22,887 23,940
8
Other
Sales Tax, Durango ($,000)** 1,046 1,142 1,068
Commercial Sales ($,000) (to date) 11,673 10,284 3,950 +
Foreclosures (to date) 16 10 19 +
  Energy Use
     Commercial (mwh) 56,074 53,890 52,718 +
     Commercial Accounts 6,415 6,401 6,368 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)