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

Economic conditions in La Plata County from Oct 2014 to Oct 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

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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