Economic Dashboard February 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

February 2018

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

 

Summary
Improved (+) 11
No Change (o) 2
Declined (-) 6
Improved (Declined) 5
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,411 31,426 30,804 +
  Unemployment Rate (%) 3.4 3.1 3.1
  Labor Force Participation (%) 56.1 56.2 55.6 o
  Job Openings 975 939 1,422
8
Construction & Housing
  New Permits (to Date) 33 19 15 +
  Value of Permits ($,000) (to Date) 10,836 3,673 5,034 +
  Home Sales 91 46 94
  Average Home Price ($) 467,440 436,731 501,010
  Earnings Needed* ($) 80,300 72,400 84,500 +
8
Travel & Tourism
  Enplanements 12,588 13,563 13,114
  Lodgers Tax ($) 34,185 61,413 31,496 +
  Train Visitors 1,856 2,691 1,817 +
8
Gas & Oil
  New Permits (to date) 35 33 2 +
  Production (mmcf) 21,203 22,941 22,331
8
Other
Sales Tax, Durango ($,000)** 1,142 1,793 1,057 +
Commercial Sales ($,000) (to date) 10,284 4,743 920 +
Foreclosures (to date) 10 6 11 +
  Energy Use
     Commercial (mwh) 53,890 55,708 48,940 +
     Commercial Accounts 6,401 6,396 6,359 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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