Economic Dashboard November 2017

Economic Dashboard November 2017

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

November 2017

Economic conditions in La Plata County from November 2013 to November 2017.

Summary
Improved (+) 10
No Change (o) 4
Declined (-) 7
Improved (Declined) 3
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,575 32,714 30,282 +
  Unemployment Rate (%) 2.4 2.2 2.3
  Labor Force Participation (%) 57.0 57.3 53.9 +
  Job Openings 1,559 1,752 1,724
Average Wage, Openings ($to Date) 35,037 34,426 32,323 +
8
Construction & Housing
  New Permits (to Date) 291 249 235 +
  Value of Permits ($,000) (to Date) 190,318 148,274 114,390 +
  Home Sales 782 721 787 o
  Average Home Price ($) 440,819 439,964 454,233
  Earnings Needed* ($) 72,100 71,800 72,900 o
8
Travel & Tourism
  Enplanements 14,624 17,451 15,018
  Lodgers Tax ($) 91,619 149,761 126,123
  Train Visitors 8,003 13,696 3,024 +
8
Gas & Oil
  New Permits (to date) 104 103 90 +
  Production (mmcf) 24,133 24,995 25,065
8
Other
Sales Tax, Durango ($,000)** 1,575 1,631 1,325 +
Commercial Sales ($,000) (to date) 34,010 27,558 31,963 +
Foreclosures (to date) 52 49 54 +
  Energy Use
     Large Industry (mwh) 31,634 32,794 31,625 o
     Other Commercial (mwh) 21,882 21,791 22,860
     Commercial Accounts 6,396 6,408 6,355 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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