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

Economic conditions in Durango and La Plata County, July 2014-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

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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