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

 

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

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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)