Economic Dashboard January 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

January 2018

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

 

Summary
Improved (+) 9
No Change (o) 4
Declined (-) 6
Improved (Declined) 3
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,426 31,148 30,408 +
  Unemployment Rate (%) 3.2 2.6 2.5
  Labor Force Participation (%) 56.2 55.7 55.0 o
  Job Openings 939 941 1,478
8
Construction & Housing
  New Permits (to Date) 19 308 7 +
  Value of Permits ($,000) (to Date) 3,673 200,111 2,216 +
  Home Sales 46 873 47
  Average Home Price ($) 436,731 449,244 567,623
  Earnings Needed* ($) 72,400 73,700 95,500 +
8
Travel & Tourism
  Enplanements 13,563 14,448 13,161 +
  Lodgers Tax ($) 61,413 42,342 70,727
  Train Visitors 2,691 30,115 1,604 +
8
Gas & Oil
  New Permits (to date) 33 108 0 +
  Production (mmcf) 23,387 24,884 24,943
8
Other
Sales Tax, Durango ($,000)** 1,793 1,171 1,794 o
Commercial Sales ($,000) (to date) 4,743 35,142 920 +
Foreclosures (to date) 6 54 9 +
  Energy Use
     Commercial (mwh) 55,708 57,696 56,464 o
     Commercial Accounts 6,396 6,392 6,351 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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