News & Information

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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Steamboat Economic Summit 2015 presentation

Steamboat Economic Summit 2015 presentation

Economic presentation from 2015 Steamboat Economic Summit.

YVDP_RouttEconomicOverview_EconomicSummit_9Oct2015_Final

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FastFacts – July 2015

FastFacts – July 2015

Employment
May 2015 unemployment rates in Moffat (4.9%), Rio Blanco (5.3%) and Routt (4.8%) all represented improvement from May 2014. Colorado’s unemployment rate was 4.3% while the newly released U.S. rate for June dropped to 5.3%, the lowest it’s been since April 2008.

Industry
Mining held its place as the largest industry in terms of total wages for both Moffat and Rio Blanco counties in the fourth quarter of 2014. Healthcare and Social Assistance led the way as the largest wage-producing industry in Routt County.

Wages
The Finance and Insurance industry paid the highest average weekly wage in both Routt and Moffat counties in the fourth quarter of 2014, while Utilities workers brought home the highest average weekly wage in Rio Blanco County.

Real Estate
February 2015 median list prices for homes were up in Rio Blanco County (13%) and Routt County (19%) and down by 11% in Moffat County compared to the same time the previous year.

Energy
Year-to-date coal production through April 2015 was up 92% in Rio Blanco County and 9% in Moffat County, but was down 35% in Routt County compared to the first four months of 2014. Year-to-date gas production was down 24-30% in each county.

Climate
The end of June found Stagecoach and Yamcolo reservoirs holding at 13% and 19% above usual water levels respectively. The Yampa River was flowing at 36% of its 2004-2014 average, with the White River flowing at 79% of average.

2015_07_FastFacts_final

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FastFacts – April 2015

FastFacts – April 2015

Employment

February 2015 unemployment rates in Routt (3.7%), Moffat (6.3%) and Rio Blanco (6.5%) all represented improvement from the same time one year earlier. The Colorado unemployment rate in February 2015 stood at 4.7% while the U.S. rate was 5.5%.

Industry

Mining held its place as the largest industry in terms of total wages for both Moffat and Rio Blanco counties in the third quarter of 2014, accounting for about a fifth of all wages. Construction led the way as the largest wage-producing industry in Routt County.

Retail sales

Latest available state retail sales figures showed Routt County (7%) and Rio Blanco County (5%) outpacing year-to-date figures from the previous year, with Moffat County running behind its previous-year figures by about 6%.

Real estate

February 2015 median list prices for homes were up in Rio Blanco (13%) and Routt (19%) and down by 11% in Moffat County compared to the same time the previous year. Favorable foreclosure ratios were running at lower than 0.5 of every 1,000 homes.

Energy

January 2015 coal production was up 47% in Moffat and 86% in Rio Blanco, and down 45% in Routt, compared to the same time the previous year. January 2015 oil and gas production trailed previous-year figures in all three counties.

Climate

The end of March found snow-water running 20% to 30% below 10-year averages. Stagecoach and Yamcolo reservoirs were holding at 25% and 14% above usual water levels respectively. The Yampa and White rivers were flowing above 2004-2014 averages.

2015_04_FastFacts_final

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FastFacts – February 2015

FastFacts – February 2015

Employment
Favorable December 2014 unemployment rates in Moffat (4.2%), Rio Blanco (3.2%) and Routt (3.0%) combined for a tri-county improvement of 1.2% from one year earlier. The December 2014 Colorado unemployment rate was 4.2%, with the U.S. rate at 5.6%.

Industry
Mining held its place as the largest industry in terms of total wages for both Moffat and Rio Blanco counties in the third quarter of 2014, accounting for about a fifth of all wages. Construction led the way as the largest wage-producing industry in Routt County.

Retail Sales
Latest available state retail sales figures showed Routt County (7%) and Rio Blanco County (5%) outpacing year-to-date figures from the previous year, with Moffat County running behind its previous-year figures by about 6%.

Real Estate
January 2015 median list prices for homes were up 10% in both Rio Blanco and Routt counties, and were down by 9% in Moffat County, compared to the same period last year. Favorable foreclosure ratios were running at lower than 1 of every 1,000 homes.

Energy
January 2015 coal production was up 47% in Moffat and 86% in Rio Blanco, and down 45% in Routt, compared to January 2014. Moffat oil and gas numbers slightly trailed January 2014 figures, while Rio Blanco oil and gas outperformed the previous January.

Climate
The end of February found snow-water at Rabbit Ears, Buffalo Pass, Ripple Creek and Burro Mountain running 10% to 20% below 10-year averages. Stagecoach and Yamcolo reservoirs were holding at 10% to 25% above usual water levels. The Yampa River and White River were flowing 9% to 20% above their 2007-2014 averages.

2015_02_FastFacts_Final

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1st Quarter 2015 Regional Economic Forecast News – Moffat, Rio Blanco & Routt counties

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February 24, 2015

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General News

1st Quarter 2015 Regional Economic Forecast News – Moffat, Rio Blanco & Routt counties
  • Unemployment rates for the tri-county Yampa-White River region fell by a combined 1.9% over the course of 2014. December 2014 rates for each county (4.2% in Moffat, 3.2% in Rio Blanco, 3.0% in Routt) represent a return to favorable pre-recession levels. Current economic indicators point toward continued low unemployment and sustained job growth in Colorado in 2015.
  • The Mining sector continues to lead the way in Moffat and Rio Blanco counties as the largest wage generator. Mining accounted for almost $9 million of the roughly $50 million in wages in Moffat, or about 18% of all wages, in the second quarter of 2014. Mining won out as the top wage distributor and largest employer in Rio Blanco County, accounting for better than $12 million of the roughly $40 million in RBC Q2 wages, or about 30%.
  • In Routt County, the Construction industry accounted for 15% of the roughly $137 million in total Q2 wages and took second place as largest employer in terms of jobs. Accommodation and Food Services was Routt County’s largest sector in terms of number of workers, providing more than 15% of the jobs in the county. But this sector, unfortunately, offers the lowest wage in the county.
  • Year-to-date coal production through October was up better than 6% in Moffat County, down 6.5% in Rio Blanco County and down 11% in Routt County.
  • This quarter’s Regional Economic Forecast News digs deeper into which industries are growing in the tri-county area. Our analysis begins on page 8.

YV_Data_Partners_Economic_Newsletter_Q1_2015_Final

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FastFacts – December 2014

FastFacts – December 2014

Employment

November unemployment rates in Routt County (3.7%) and Moffat County (3.8%) increased slightly since October but remained favorable compared to November 2013, when rates stood at 5.5% in Routt and 5.2% in Moffat.

Real Estate

There were 27% fewer home listings in Moffat County in December 2014 compared to the previous December, while Routt County saw roughly a 15% drop in the number of listings over the same period. November 2014 median listing prices were down about 15% in Moffat and 4% in Routt compared to the previous November.

Energy

Coal production through September 2014 was up nearly 8% 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 15% from 2013.

Climate

Recent snow boosted snowpack and snow-water equivalent to above the 1987-2013 average on Rabbit Ears Pass and about average on Buffalo Pass. Stagecoach and Yamcolo reservoir levels remained better than 20% above average, a carryover from the Yampa Valley’s wet summer.

2014_12_FastFacts_Final

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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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4th Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties

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November 18, 2014

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General News

4th Quarter 2014 Economic Forecast Newsletter – Moffat & Routt Counties
  • Unemployment rates in the Yampa Valley this fall have reached a seven-year low, portending good news for job-seekers but a shortage of workers for employers, particularly in Routt County.
  • The Yampa Valley’s unemployment rate continues to improve, a five-year trend that is expected to hold through the first quarter of 2015. The combined county unemployment rate in September was 3.3%, with Moffat County’s rate at 3.8% and Routt’s at 3.0%. However, Routt County’s lack of available workers now clearly points toward a labor shortage this quarter and next.
  • Routt County has continued to post strong retail sales. Latest available Colorado Department of Revenue information on local retail sales shows that year-to-date sales through the first third of 2014 were up nearly 5% in Routt County. Those figures also showed a dip of about 11% in Moffat County compared to the same portion of the previous year.
  • The Moffat housing market overall has been stable recently, with lower than average foreclosures and consistency in prices and the number of homes for sale for a typical September. The Routt housing market experienced an improvement with an increase in list prices, rise in sale prices, low foreclosure rate in September and fewer homes for sale in October compared to previous years.
  • Coal production over the first half of the year was up from 2013 figures in both counties. Based on the latest data available, year-to-date coal production through June was up nearly 9% in Moffat County and 17% in Routt County, despite a statewide production decline of 2%. Year-to-date oil production through August was down by just under one-third in Moffat County and one-quarter in Routt County from the previous year. Moffat year-to-date gas production was down nearly 17%, while Routt’s relatively small amount of gas production was up by 17% compared to 2013.

YV_Data_Partners_Economic_Newsletter_Q4_2014_Final

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