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FastFacts – February 1, 2016

FastFacts – February 1, 2016

February 1, 2016 FastFacts

Employment
Moffat, Rio Blanco and Routt counties maintained record low unemployment rates in December with Moffat and Rio Blanco trending upward and Routt dropping to 2.4% by the end of the fourth quarter. Labor shortages may worsen through the first half of 2016.
Industry
Mining dominated as the top sector by wages in Moffat and Rio Blanco, distributing nearly $21 million (a quarter of all wage income) in the second quarter of 2015. Health Care and Social Assistance continues to rank in the top three industries for all three counties.
Wages
Moffat’s average weekly wage rose in 2015 to $834, a level not seen since 2011. Rio Blanco and Routt’saverage wage was lower in 2015 compared to 2014. Accommodations and Food Services brought in the lowest average wages in two out of the three counties.
Precipitation
This year’s snow depth was greater at Rabbit Ears, Buffalo Mountain Burro Mountain and Ripple Creek sites compared to the same period in 2015. Snow-water equivalents are below the 10-year average at Buffalo Pass. Rabbit Ears, Ripple Creek and Burro Mountain come in above their 10-year average.
Coal
Through November 2015, year-to-date coal production at Twentymile mine in Routt County was running 39.4% behind 2014. At Deserado mine in Rio Blanco County, year-to-date production was up 37%, and Moffat County coal production for the year was up 6.3%.
Oil & Gas
Gas production in Rio Blanco County through the first eleven months of 2015 lagged 32.2% behind 2014 figures. Gas production also was down in Moffat (18.3%) and Routt (22.0%) counties, while year-to-date oil production in Rio Blanco County showed a decline of 7.7%.

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FastFacts – November 2015

November 2015 Release

Employment
September unemployment rates in Routt (2.6%) and Moffat (3.3%) marked each county’s lowest September unemployment rate since 2007. Rio Blanco County’s 4.5% unemployment rate was up just slightly from its September 2014 rate of 4.3%.

Industry
Mining held its place as the largest industry in terms of total wages for both Moffat and Rio Blanco counties in the first quarter of 2015. Finance and Insurance took over top spot as the industry generating the most total wages in Routt County.

Wage
The Mining industry accounted for the top weekly wage in both Rio Blanco and Moffat counties in the first quarter of 2015, with those jobs averaging $1,881/wk. in RBC and $1,553/wk. in Moffat. In Routt, Finance and Insurance jobs paid the top wage at $5,744/wk.

Retail
Retail sales for the first four months of 2015 were up 12% in Moffat County and nearly 7% in Routt County compared to the first four months of 2014. Over the same period, Rio Blanco County experienced a 6% decline in its retail sales.

Coal
Through July 2015, year-to-date coal production at Twentymile mine in Routt County was running 48% behind 2014. At Deserado mine in Rio Blanco County, year-to-date
production was up 52%, and Moffat County coal production for the year was up 27%.

Oil & Gas
Gas production in Rio Blanco County through the first seven months of 2015 lagged 45% behind 2014 figures. Gas production also was down in Moffat and Routt counties, while year-to-date oil production in Rio Blanco County showed decline of 10.4%.

November 2105 Fast Facts

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FastFacts – November 2014

FastFacts – November 2014

Employment

October unemployment rates in Routt County (3.3%) and Moffat County (3.4%) were the most favorable figures seen in either county since fall 2008. Routt’s employed worker to labor force ratio now reflects a labor shortage in the county.

Retail Sales

Moffat County retail sales over the first five months of 2014 lagged more than 9% behind sales for the same period in 2013, with the Lodging sector showing the largest decline. Routt County retail sales over the first five months of 2014 were 5% ahead of the previous year.

Real Estate

November found Moffat County with 24% fewer homes listed for sale compared to October. Routt County had 15% fewer homes listed for sale in November compared to October. Median list and sale prices held steady since summer in both counties.

Energy

Coal production through September 2014 was up nearly 12% in Moffat County and 2% in Routt County compared to the same period in 2013. Moffat oil and gas numbers trailed 2013 figures, while Routt’s small quantity of gas production was up 34% from 2013.

Climate

A dry autumn resulted in Rabbit Ears and Buffalo Pass snow-water levels running roughly 5% to 7% lower than 1987-2013 averages. The Yampa Valley still was benefitting from a wet summer with reservoirs filled above last year’s levels and Yampa River streamflow running 23% above 2007-2013 average.

2014_11_FastFacts_Final

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3rd Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties

3rd Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties

Yampa Valley economic indicators point to an overall healthy employment picture with strong retail sales in Routt County and sluggish retail sales in Moffat County.

  • The Yampa Valley’s unemployment rate continues to improve, a trend that is expected to hold through the 3rd and 4th quarters of 2014 based on post-recession seasonal trends. The combined county unemployment rate in June was 4.8%, with Moffat County’s rate at 5.4% and Routt’s at 4.2%.
  • Routt County’s current low unemployment is underscored by a ratio between employed workers and available labor that is inching toward levels that could even portend a shortage of workers.
  • Latest available state information on local retail sales shows that first-quarter 2014 sales were down nearly 9% in Moffat County and up almost 5% in Routt County compared to first-quarter 2013. Routt-Moffat combined retail sales for first-quarter 2014 totaled  $374 million, a 2.6% increase compared to the previous year.
  • Although Moffat County 2014 retail sales were off to a slow start, sales typically improve in the summer. Routt sales were forecast to pick up in the summer as well, rise through 2014, and ultimately outperform 2013 sales.
  • Moffat’s June median home listing price and number of homes for sale in July were stable with little change compared to the same period last year, although Moffat experienced an increase in foreclosures in June. Routt’s June home median listing price continued to drop, reaching 2011 prices. Fewer homes were listed for sale in July compared to the same time last year and foreclosures remained low in Routt in line with Colorado and national foreclosure ratios.
  • Based on the latest data available, year-to-date coal production through April was up nearly 7% in Moffat County, down almost 7% in Routt County and down 13% statewide from 2013.

We hope you’ll enjoy this quarterly edition of our Regional Economic Forecast News. Please click the link below to view and/or print the entire publication. Don’t miss our Spotlight (pages 8-9) on Income Inequality or our quick overview on economic impacts of coal mining (back page).

YV_Data_Partners_Economic_Newsletter_Q3_2014_Final

 

 

 

 

 

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FastFacts – June 2014

FastFacts – June 2014

Employment

Unemployment rates in the Yampa Valley remained low in May, with both the Routt County and Moffat County rates coming in at 5.6%. In comparison, unemployment rates one year earlier stood at 7.8% in Routt and 6.2% in Moffat.

Retail Sales

Moffat County’s March retail sales were down 10% from March 2013, while Routt County retail sales were up 6.3% from the previous March. Retail sales for the first quarter of 2014 were down nearly 9% in Moffat and up almost 5% in Routt.

Real Estate

Moffat  County had 302 homes listed for sale at the end of June, an increase of more than 22% from one year earlier. Routt County had 860 homes listed for sale at the end of June, a decline of a little more than 3% from the previous June.

Energy

Year-to-date coal production through April was up nearly 7% in Moffat County, down almost 7% in Routt County and down 13% statewide from 2013. Oil production was down in both counties, with Routt showing an increase in its small amount of gas production.

Climate

Stagecoach and Yamcolo reservoir levels, as well as Yampa River streamflow in Steamboat, all were above average. Almost 13 inches of snow-water equivalent remained atop Buffalo Pass in the final days of June, about 4% more than average.

2014_06_FastFacts

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FastFacts – May 2014

FastFacts – May 2014

Employment

Rates continue to indicate low unemployment in the Yampa Valley, with Routt County’s April 2014 unemployment rate at 4.5% and Moffat County unemployment at 6.2%. Statewide, the unemployment rate stood at 6%.

Retail Sales

Moffat County’s February 2014 retail sales declined 9% compared to the previous February, while Routt County retail sales were up 0.7% over the previous February. Year-to-date retail sales were down nearly 9% in Moffat and up about 4% in Routt.

Real Estate

In the four months immediately following Christmas Day, the number of homes listed for sale increased by 20% in Moffat County and 11% in Routt. End-of-April median listing prices stood at $179,500 in Moffat County and $450,000 in Routt.

Energy

Year-to-date coal production through February was up more than 6% in Moffat County but down more than 29% in Routt County compared to 2013 numbers. Oil and gas production for 2014 got off to a slow start in both counties.

Climate

April 2014 snow-water equivalent stood at a healthy 182% of average on Rabbit Ears Pass and 120% of average on Buffalo Pass, while Yampa River streamflow was running at 125% of average.

2014_05_FastFacts

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2nd Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties

2nd Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties

 The Yampa Valley economy experienced a mixed first quarter. Highlights from this edition of our quarterly Regional Economic Forecast News include:

  • February unemployment rates were up from the previous month in both counties, rising to 7.1% in Moffat and 4.8% in Routt. However, these were the lowest February unemployment rates in the last five years. Our Spotlight section (pages 8-9) offers insight into factors contributing to the Yampa Valley’s current unemployment numbers.
  • Routt County retail sales in January were up 6.7% from January 2013, marking the best retail sales in five years. Moffat County retail sales in January were down 7.3% from the previous January, the lowest January sales in five years. Moffat sales, however, typically do improve and peak over the summer.
  • Median listing price for homes dropped by 14% in Moffat County and 3% in Routt County over the first quarter of 2014, with Moffat also seeing a 21% increase in homes for sale. Moffat County median listing price for March 2014 was up 30% from the March 2013 listing price.
  • Coal production in January was up 27% in Moffat County and 6% in Routt compared to the previous January, even as statewide coal production declined 15%.

We hope you’ll enjoy this quarterly edition of our Regional Economic Forecast News. Please feel free to view it on your screen or download a .pdf. Please be patient if you go the .pdf route as the file might take a minute to load.

YV_Data_Partners_Economic_Forecast_Newsletter_Q2_2014_Final

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FastFacts March 2014

FastFacts March 2014

Employment
Routt County’s January 2014 unemployment rate remained at a five-year low of just 4.5%. Following a Moffat County seasonal trend, Moffat’s unemployment rate jumped to 7%, which still represented the county’s lowest January unemployment rate in four years.

Retail Sales
Moffat retail sales dropped 20% in December 2013 compared to the previous December, while 2013 annual retail sales dipped 5% from 2012. Routt retail sales in December were up 1.6% from the previous December, with annual sales up 5% from the previous year.

Real Estate
Average February 2014 home listing price in Routt County was $495,000, a drop to prices comparable with September and October 2013. Average home listing price in Moffat County was $175,000, remaining steady since the previous month.

Energy
Coal production for 2013 was down about 10% in both Routt and Moffat counties, and declined 21% statewide. Routt and Moffat accounted for roughly half the Colorado coal produced in December. Routt gas production for 2013 was up 33% from the previous year.

Climate
One week into spring, snow-water equivalent was running a healthy 140% of average on Rabbit Ears Pass and 119% on Buffalo Pass. Snowpack for the Yampa/White River Basin remained at 123% of average, outpacing the statewide average of 113%.

FastFacts March 2014

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2014-15 Community Indicators Report

2014-15 Community Indicators Report

Community Indicators Project

The Community Indicators Project was initiated by Yampa Valley Data  Partners in 1996 to document regional quality of life in the Yampa Valley through social, economic, environmental, and civic measurements.

The Community Indicators Project is a collaboration between the communities and counties in the Yampa Valley, Yampa Valley organizations, and national and state organizations such as National Civic League, and the Women’s Foundation of Colorado. The Community Indicators Project belongs to the Yampa Valley community and must be well used to serve its purpose.

We aim for this report to be a resource for nonprofits, school and education administrators, business owners, local officials, and other concerned citizens across the valley. The interconnections among the social, economic, environmental, and civic indicators presented here are the basis for a wealth of community discussions on our changing Valley.

Please feel free to also download the 2014-2015 Community Indicator Report below:

Community Indicators Report 2014-15

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FastFacts February 2014

FastFacts February 2014

Employment
The Routt County unemployment rate dipped to 4.5% in December 2013, the lowest rate since December 2008. Moffat County’s 5.2% unemployment rate in December 2013 still was well below the current Colorado unemployment rate (6.2%) and U.S. rate (6.6%).

Retail Sales
Moffat County retail sales remained solid on a year-to-date basis despite a 15.2% drop in November 2013 compared to the previous November. Routt County retail sales in November 2013 were up 9.1% compared to the previous November.

Real Estate
Average December 2013 listing price in Routt County was $529,900, a slight drop from the previous month. Average listing price in Moffat County was $179,000 and has remained in the $169,000-195,000 range since May.

Energy
Year-to-date coal production through November 2013 was down almost 20% in Moffat County, nearly 18% in Routt County, and 31% statewide. Moffat and Routt accounted for roughly half the Colorado coal produced in November.

Climate
Heading into the final days of February, snow-water equivalent was running a healthy 133% of average on Rabbit Ears Pass and 120% on Buffalo Pass. Snowpack for the Yampa/White River Basin was 123% of average, outpacing the statewide average of 115%.

FastFacts February 2014

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