Economic Dashboard September 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

September 2018

Economic conditions in La Plata County from Sep 2014 to Sep 2018.

 

Summary
Improved (+) 7
No Change (o) 4
Declined (-) 8
Improved (Declined) (1)
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 33,395 32,872 32,196 +
  Unemployment Rate (%) 2.6 3.1 1.9
  Labor Force Participation (%) 59.2 58.3 57.8 +
  Job Openings 1,007 1,175 1,698
8
Construction & Housing
  New Permits (to Date) 204 182 207 o
  Value of Permits ($,000) (to Date) 102,730 94,238 104,409 o
  Home Sales 630 561 644
  Average Home Price ($) 485,870 480,586 438,935 +
  Earnings Needed* ($) 86,500 84,800 70,800
8
Travel & Tourism
  Enplanements 17,029 18,648 17,373 +
  Lodgers Tax ($) 125,226 142,785 142,099
  Train Visitors 17,906 14,001 24,164
8
Gas & Oil
  New Permits (to date) 86 79 93
  Production (mmcf) 24,500 24,901 23,984 +
8
Other
Sales Tax, Durango ($,000)** 1,477 1,487 1,510
Commercial Sales ($,000) (to date) 28,730 22,487 26,208 +
Foreclosures (to date) 45 40 46 +
  Energy Use
     Commercial (mwh) 54,614 58,867 53,138 +
     Commercial Accounts 6,452 6,468 6,424 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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