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)

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