Economic Dashboard April 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

April 2018

Economic conditions in La Plata County from April 2014 to April 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 32,039 31,381 31,589 o
  Unemployment Rate (%) 2.4 2.9 1.9
  Labor Force Participation (%) 57.1 56.0 56.9 o
  Job Openings 924 881 1,863
8
Construction & Housing
  New Permits (to Date) 71 52 55 +
  Value of Permits ($,000) (to Date) 31,095 18,655 24,066 +
  Home Sales 209 148 219
  Average Home Price ($) 486,673 476,352 432,425 +
  Earnings Needed* ($) 85,000 82,900 71,900
8
Travel & Tourism
  Enplanements 13,734 15,201 12,370 +
  Lodgers Tax ($) 61,323 42,056 55,983 +
  Train Visitors 3,737 4,676 4,049
8
Gas & Oil
  New Permits (to date) 52 47 47 +
  Production (mmcf) 21,757 25,532 21,862 o
8
Other
Sales Tax, Durango ($,000)** 1,363 1,046 1,287 +
Commercial Sales ($,000) (to date) 12,153 11,673 7,040 +
Foreclosures (to date) 19 16 22 +
  Energy Use
     Commercial (mwh) 52,775 56,074 50,812 +
     Commercial Accounts 6,461 6,415 6,420 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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