Economic Dashboard October 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

October 2018

 

Summary
Improved (+)	4
No Change (o)	7
Declined (-)	8
Improved (Declined)	(4)
	Current	Last Month	Last Year	Change (vs Last Year)
Workforce
Labor Force	32,785	33,395	32,714	o
Unemployment Rate (%)	2.7	2.6	2.2	–
Labor Force Participation (%)	58.0	59.2	58.7	o
Job Openings	925	1,007	1,752	–
8
Construction & Housing
New Permits (to Date)	227	206	249	–
Value of Permits ($,000) (to Date)	119,175	103,676	148,2740	–
Home Sales	688	630	721	–
Average Home Price ($)	489,559	485,870	439,964	+
Earnings Needed* ($)	89,200	86,500	71,800	–
8
Travel & Tourism
Enplanements	17,440	17,029	17,451	o
Lodgers Tax ($)	142,586	125,226	149,761	–
Train Visitors	15,363	17,906	13,696	+
8
Gas & Oil
New Permits (to date)	98	86	103	–
Production (mmcf)	25,471	23,962	24,995	o
8
Other
Sales Tax, Durango ($,000)**	1,651	1,477	1,631	o
Commercial Sales ($,000) (to date)	30,315	28,730	27,558	+
Foreclosures (to date)	47	45	49	+
Energy Use
Commercial (mwh)	55,348	54,614	54,765	o
Commercial Accounts	6,464	6,452	6,408	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)