The Yampa Valley’s economy is continuing its slow recovery out of the Great Recession, according to recently released data by Yampa Valley Data Partners.
The February edition of Data Partners’ Fast Facts examines five economic drivers in Moffat and Routt counties, including employment, retail sales, real estate, energy and climate.
Surprisingly, Moffat County did not drive 2012 energy production for the valley. Through November 2012, year-to-date coal production was down 5.2 percent in Moffat County and up 5.2 percent in Routt County, according to Data Partners.
Oil production was up 11.6 percent in Moffat County and was down 36.3 percent in Routt during the same time period, but natural gas production skyrocketed in Routt County by 87.6 percent through November 2012. In Moffat County, natural gas production dropped 17 percent.
In terms of employment, labor rates appear to be in balance in both Moffat and Routt counties, Data Partners reports.
As of December 2012, the unemployment rates in Moffat and Routt counties were 7.3 percent and 6.3 percent, respectively, with changes in the number of employed workers mirroring changes in the size of the labor force.
Combined taxable retail sales in both counties also were positive in November 2012 and totaled $87.56 million, which is a 0.2 percent increase over November 2011.
For more information or to view this month’s FastFacts in its entirety, visit Yampa Valley Data Partners online.
Joe Moylan can be reached at 875-1794 or firstname.lastname@example.org.