Economic Dashboard August 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

August 2018

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

 

Summary
Improved (+) 9
No Change (o) 3
Declined (-) 7
Improved (Declined) 2
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,872 32,915 31,739 +
  Unemployment Rate (%) 3.1 3.0 1.9
  Labor Force Participation (%) 58.3 58.5 57.0 +
  Job Openings 1,175 1,013 1,860
8
Construction & Housing
  New Permits (to Date) 184 165 178 +
  Value of Permits ($,000) (to Date) 95,184 86,181 87,927 +
  Home Sales 561 470 565 o
  Average Home Price ($) 480,586 469,427 433,419 +
  Earnings Needed* ($) 84,800 82,600 70,500
8
Travel & Tourism
  Enplanements 18,648 18,959 18,003 +
  Lodgers Tax ($) 142,785 125,498 164,387
  Train Visitors 14,001 16,088 25,383
8
Gas & Oil
  New Permits (to date) 79 76 81
  Production (mmcf) 24,179 21,032 24,223 o
8
Other
Sales Tax, Durango ($,000)** 1,487 1,551 1,548
Commercial Sales ($,000) (to date) 22,487 16,063 18,376 +
Foreclosures (to date) 32 32 36 +
  Energy Use
     Commercial (mwh) 58,867 58,859 55,282 +
     Commercial Accounts 6,468 6,469 6,424 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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