Economic Dashboard March 2019

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

March 2018

Year-Over-Year Economic Indicator

Economic conditions in La Plata County from Mar 2015 to Mar 2019.

Summary
Improved (+) 4
No Change (o) 7
Declined (-) 8
Improved (Declined) (4)
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,494 31,330 31,381 o
  Unemployment Rate (%) 3.1 3.7 2.9
  Labor Force Participation (%) 554 55.2 56.0 o
  Job Openings 715 892 881
8
Construction & Housing
  New Permits (to Date) 0 10 52
  Value of Permits ($,000) (to Date) 125,008 118,992 18,655 +
  Home Sales 71 56 148
  Average Home Price ($) 499,750 496,764 476,352 +
  Earnings Needed* ($) 87,000 85,800 82,900 +
8
Travel & Tourism
  Enplanements 15,766 12,944 15,201 o
  Lodgers Tax ($) 43,493 41,538 42,056 +
  Train Visitors 3,818 1,307 4,676
8
Gas & Oil
  New Permits (to date) 0 0 47
  Production (mmcf) 204 15,284 25,532
8
Other
Sales Tax, Durango ($,000)** 1,061 1,207 1,046 o
Commercial Sales ($,000) (to date) 1,389 0 11,673
Foreclosures (to date) 11 9 16
  Energy Use
     Commercial (mwh) 55,262 52,619 56,074 o
     Commercial Accounts 6,481 6,484 6,415 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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