Economic Dashboard July 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

July 2018

 

Summary
Improved (+)	9
No Change (o)	3
Declined (-)	7
Improved (Declined)	2
	Current	Last Month	Last Year	Change (vs Last Year)
Workforce
Labor Force	32,915	32,625	31,594	+
Unemployment Rate (%)	3.0	2.7	2.1	–
Labor Force Participation (%)	58.5	58.0	56.8	+
Job Openings	1,013	1,008	2,218	–
8
Construction & Housing
New Permits (to Date)	165	126	149	+
Value of Permits ($,000) (to Date)	86,181	66,560	73,818	+
Home Sales	470	384	476	o
Average Home Price ($)	469,427	476,687	433,349	+
Earnings Needed* ($)	82,600	84,300	71,300	–
8
Travel & Tourism
Enplanements	18,959	17,724	18,499	+
Lodgers Tax ($)	125,498	99,671	144,637	–
Train Visitors	16,088	1,465	36,542	–
8
Gas & Oil
New Permits (to date)	76	76	62	+
Production (mmcf)	24,823	23,728	24,633	o
8
Other
Sales Tax, Durango ($,000)**	1,551	1,432	1,620	–
Commercial Sales ($,000) (to date)	16,063	14,742	17,631	–
Foreclosures (to date)	32	32	36	+
Energy Use
Commercial (mwh)	58,859	54,896	55,789	+
Commercial Accounts	6,469	6,471	6,423	o

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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)