Moffat County economic trends for January 2018
March 22, 2018
Editor’s Note: Once per month, the Craig Press will provide a summary of trends impacting the local economy. The news staff will work to provide the most accurate and timely employment statistics, tax reports and relevant economic data available at the time of publication. As we develop this new feature, we welcome your ideas and suggestions about the local economic information you want to read. Send tips and suggestions to firstname.lastname@example.org or business reporter Sasha Nelson at email@example.com.
Employment statistics for January
The unemployment rate for Moffat County as of January was 4.3 percent, higher than the 3.7 percent unemployment rate recorded for December 2017, according to data from the Colorado Department of Labor and Employment. This is 1 percent higher than the 3.3 percent average unemployment rate for the state. The national unemployment rate was also trending higher, at 4.8 percent in January, compared to 4.1 percent in December.
Employers in Colorado added 7,100 non-farm payroll jobs from December to January, for a total of 2,693,900 jobs, according to a CDLE survey of business establishments. Private sector payroll jobs increased by 7,300, and government decreased by 200, according to the same survey.
There were 7,163 people currently employed and 127 jobs advertised online in Moffat County, as of March 21, according to data from the CDLE.
Over the year, the average workweek for all employees on private non-farm payrolls increased from 33.1 to 33.2 hours, and average hourly earnings increased from $27.42 to $28.24.
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That's more than in Moffat County, where workers take home an average of $23.25 per hour, $930 per week and $48,360 a year.
The largest over-the-month private sector job gains were in trade, transportation and utilities, education and health services and construction.
City sales tax collected in January
The city of Craig received a little more than $263,000 from the 2.25 percent sales tax levied against sales recorded in January. This amount was 3.34 percent higher than January of 2017.
Note from City Finance Director and Interim City Manager Bruce Nelson: The monthly amount of sales tax received will reflect prior months collections due to delinquent filings and also will not reflect those who have not yet filed. Therefore, the amount and percentage change between current and prior year totals only the amount and percentages collected so far. It is only an estimate of the increase or decrease in sales activities. The new city sales tax rates will go into effect, and the city of Craig will also begin collecting the city sales tax beginning July 1. Between now and July 1, the city will develop rules, regulations, policies and procedures for business licensing, reporting and collection of city sales tax.
Moffat countywide sales taxes for January
Moffat County collected a little more than $175,000 in taxes from an approximate $13.2 million in gross sales. This was down by 7.06 percent for the same month in 2017, when a little more than $188,000 in taxes were collected from an approximate $14.4 million in sales.
The 2-percent county sales tax is shared between the city of Craig and the town of Dinosaur. From the total countywide sales tax collected, the city will receive about $134,000. The town of Dinosaur will receive a little more than $2,100. The county will receive a little more than $38,000.
Currently, sales taxes are collected by the Colorado Department of Revenue and distributed to the city and county two months later.
Moffat County lodging tax for first quarter 2018
Moffat County Tourism Association receives 1.9 percent lodging tax that is due quarterly.
In the first quarter of 2018, a little more than $5,100 in tax was collected so far and is expected to rise.
The average amount of tax collected in the first quarter between 2015 and 2018 is a little less than $16,800.
Local Marketing District tax for January
Moffat County Local Marketing District receives 4-percent lodging tax that is due on the same schedule as each business's sale tax and is reported monthly.
For January, more than $7,800 in tax was collected, down by about 54 percent from the more than $17,000 collected in January 2017.
These figures do not include revenues from businesses that may have delayed filing or that file their business taxes less frequently.
The average amount of tax collected in January for the LMD between 2016 and 2018 is a little more than $11,500.
The complete monthly report from Moffat County Finance Director Mindy Curtis is available online at colorado.gov/pacific/moffatcounty/financial-statements-0.
Contact Sasha Nelson at 970-875-1794 or snelson@CraigDailyPress.com.