Economic Dashboard December 2017

Economic Dashboard December 2017

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

December 2017

Economic conditions in La Plata County from December 2013 to December 2017.

 

Summary
Improved (+) 13
No Change (o) 3
Declined (-) 5
Improved (Declined) 8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,148 32,575 29,699 +
  Unemployment Rate (%) 2.7 2.3 2.3
  Labor Force Participation (%) 54.4 57.0 52.8 +
  Job Openings 941 1,559 1,393
Average Wage, Openings ($to Date) 35,447 35,037 32,532 +
8
Construction & Housing
  New Permits (to Date) 308 291 251 +
  Value of Permits ($,000) (to Date) 200,111 190,318 122,188 +
  Home Sales 863 782 846 +
  Average Home Price ($) 449,244 440,819 454,967 o
  Earnings Needed* ($) 73,700 72,100 77,000 +
8
Travel & Tourism
  Enplanements 14,448 14,624 15,196
  Lodgers Tax ($) 42,342 91,619 39,756 +
  Train Visitors 30,115 8,003 27,878 +
8
Gas & Oil
  New Permits (to date) 108 104 91 +
  Production (mmcf) 24,767 24,133 25,665
8
Other
Sales Tax, Durango ($,000)** 1,171 1,575 1,192 o
Commercial Sales ($,000) (to date) 35,142 34,010 34,241 +
Foreclosures (to date) 54 52 61 +
  Energy Use
     Large Industry (mwh) 32,776 31,634 31,669 +
     Other Commercial (mwh) 24,920 21,882 26,542
     Commercial Accounts 6,392 6,396 6,352 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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