Economic Dashboard December 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
December 2018
Economic conditions in La Plata County from Dec 2014 to Dec 2018.
| Summary | ||||
| Improved (+) | 7 | |||
| No Change (o) | 3 | |||
| Declined (-) | 9 | |||
| Improved (Declined) | (6) | |||
| Current | Last Month | Last Year |
Change (vs Last Year) |
|
| Workforce | ||||
| Labor Force | 32,381 | 33,785 | 31148 | + |
| Unemployment Rate (%) | 3.7 | 2.7 | 2.6 | – |
| Labor Force Participation (%) | 57.2 | 58.0 | 55.7 | + |
| Job Openings | 832 | 925 | 941 | – |
| 8 | ||||
| Construction & Housing | ||||
| New Permits (to Date) | 268 | 255 | 308 | – |
| Value of Permits ($,000) (to Date) | 156,977 | 139,692 | 200,111 | – |
| Home Sales | 832 | 755 | 863 | – |
| Average Home Price ($) | 495,946 | 494,455 | 449,244 | + |
| Earnings Needed* ($) | 88,400 | 90,500 | 73,700 | + |
| 8 | ||||
| Travel & Tourism | ||||
| Enplanements | 15338 | 15150 | 14448 | + |
| Lodgers Tax ($) | 45,570 | 91,384 | 42,342 | + |
| Train Visitors | 27,594 | 8,615 | 30,115 | – |
| 8 | ||||
| Gas & Oil | ||||
| New Permits (to date) | 99 | 98 | 108 | – |
| Production (mmcf) | 22,887 | 21,115 | 24,884 | – |
| 8 | ||||
| Other | ||||
| Sales Tax, Durango ($,000)** | 1,263 | 1,492 | 1,171 | o |
| Commercial Sales ($,000) (to date) | 34,888 | 32,398 | 35,142 | – |
| Foreclosures (to date) | 60 | 52 | 54 | + |
| Energy Use | ||||
| Commercial (mwh) | 58,505 | 55,673 | 57,696 | o |
| Commercial Accounts | 6,474 | 6,474 | 6,392 | 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)
