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FastFacts – September 2014

FastFacts – September 2014

Employment

Routt County’s August unemployment rate of 3.6% was the lowest rate Routt County had posted since September 2008. Moffat County’s August 2014 unemployment rate of 4.8% was the lowest rate Moffat had seen since December 2008.

Retail Sales

Moffat County retail sales over the first four months of 2014 lagged 10% behind sales for the same period in 2013, with the Lodging sector showing the most severe decline. Routt County retail sales over the first four months of 2014 were 6.1% ahead of the previous year.

Real Estate

The outset of October found Moffat County with 25% fewer homes listed for sale compared to the first day of summer, with median listing price remaining within 3% of the six-month average. Routt County median listing price remained within 1% of its six-month average.

Energy

Coal production for the first half of 2014 was up nearly 17% in Routt County and better than 9% in Moffat 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 29% from 2013.

Climate

Rabbit Ears and Buffalo Pass precipitation amounts, Stagecoach and Yamcolo reservoir levels, and Yampa River streamflow figures all remained well above average as a moist Yampa Valley summer turned to fall.

2014_09_FastFacts_Final

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FastFacts – August 2014

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September 11, 2014

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General News

FastFacts – August 2014

Employment

Routt County’s July unemployment rate of 3.9% is the lowest rate the county has seen since September 2008. Moffat County’s July 2014 unemployment rate of 5.4% remains unchanged from the previous month and compares favorably to its July 2013 rate of 6.1%.

Industry

In Q1 of 2014, more Moffat residents worked in Retail Trade than any other industry, while Mining provided the highest wages. Accommodations & Food Service accounted for the greatest number of jobs in Routt, with Finance & Insurance providing the highest wages.

Real Estate

July 2014 median listing prices were down 5.5% in Routt County and 5.3% in Moffat County from the previous July. Number of homes for sale in August 2014 dropped by 6.5% in Routt and 12.9% in Moffat compared to August 2013.

Energy

Year-to-date coal production through June was up better than 10% in Moffat County and nearly 17% in Routt County compared to the previous year, even as coal production statewide declined by 1.6%. Year-to-date oil production was down in both counties.

Climate

Stagecoach and Yamcolo reservoir levels were running better than 20% above average. Yampa River streamflow in Steamboat was more than three times the average, while accumulated precipitation on Buffalo Pass/Rabbit Ears was better than 25% above average.

2014_08_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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SET (Stronger Economies Together): Yampa White River Region

SET (Stronger Economies Together): Yampa White River Region

Stronger Economies Together Initiative

Launched in 2009 by the U.S. Department of Agriculture (USDA) Rural Development in collaboration with the nation’s Regional Rural Development Centers (RRDC) and their land-grant university partners, Stronger Economies Together (SET) is designed to strengthen the capacity of communities in rural America to work together in developing and implementing an economic development blueprint that strategically builds on the current and emerging economic strengths of their region. The Stronger Economies Together program builds collaboration between communities, provides economic analysis that is tailored to help capture the region’s current or emerging clusters and comparative economic advantages, and is supported by technical assistance provided by land-grant university extension systems.

Regional Collaboration

This plan reflects a collaborative planning process including representatives of local governments, non-profit community organizations, and business sectors in Moffat, Rio Blanco and Routt Counties. Public participation was encouraged through media communications and outreach to constituent groups. The resulting representative group of more than 80 participants attended nine planning meetings held throughout the region between March 2013 and December 2013, bringing input from their organizations, partners and constituents. The plan was finalized after consideration in public meetings and formal acceptance by the County Commissions and other elected officials of Moffat, Rio Blanco, and Routt Counties.

Yampa White River SET Plan FINAL 7-2-14

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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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