Economic Dashboard

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

May 2014
Economic conditions  in La Plata County through May 2014

Economic conditions in La Plata County through May 2014

Summary
Improved (+) 11
No Change (o) 4
Declined (-) 5
Improved (Declined) +6
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,554 30,649 30,355 +
  Employed 30,209 29,277 28,757 +
  Unemployment Rate (%) 4.3 4.5 5.3 +
  Labor Force Participation (%) 58.0 56.4 56.9 o
8
Construction & Housing
  New Permits (to Date)
     Durango 33 26 29 +
     Rest of County 54 38 43 +
  Value of Permits ($,000) (to Date)
     Durango 8,237 6,102 14,648 -
     Rest of County 16,514 12,600 13,351 +
  Home Sales 251 174 253 o
  Average Home Price ($) 406,620 356,383 379,077 +
Earnings Needed* ($) 68,600 61,400 59,000 -
8
Travel & Tourism
  Enplanements 15,449 12,855 15,972 -
  Lodgers Tax ($) 47,044 48,177 42,516 +
  Train Visitors 11,393 4,369 10,058 +
8
Gas & Oil
  New Permits (Year-to-date) 35 32 3 +
  Production (mmcf) 27,860 27,938 30,364 -
8
Other
  Sales Tax, Durango ($,000)** 1,087 1,202 1,111 -
  Energy Use
     Large Industry (mwh) 35,896 33,478 33,257 +
     Other Commercial (mwh) 19,352 18,361 19,537 o
     Commercial Accounts 6,299 6,281 6,226 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), and LPEA (Energy Use)