Employment

The employment situation in both counties improved in December 2011.  The number of active unemployment claims fell in both counties.  This drop could be due to individuals exhausting their benefits, however, with the improvement in job numbers it more likely individuals are finding employment.  This improvement is not without its challenges. 

The stress factor due to employment has been positive in Routt County for six consecutive months.  In Moffat County, this indictor has been positive for three months. Specific analysis by industry sector is signaling the high likelihood of labor shortages in specific in Food Services and Accommodations, Health Care Services and Retail Trade industry sectors. 

Retail Trade

Beginning with this issue of FastFacts Yampa Valley Data Partners will begin providing a higher level of detail in the retail trade sector.  In addition to total retail sales for both Moffat and Routt counties, information for sales associated with food and beverage and retail sales (consumables) will be shown separately.  This detail will be contrasted with prior year performance.  This level of detail on a countywide basis is not readily available from any other source.

Both Moffat and Routt counties saw an increase in the retail trade of 36% and 17% respectively.  In Routt County the increases were not attributed to increases in the food & beverage sectors or in retail sales, rather most of the increase in retail trade can be attributed to increases in lodging activity and vehicle sales.  Routt County food & beverage declined 4% in August compared to the prior year and retail sales had a modest increase of 6%.  In Moffat, residents are beginning to spend more.  The sales reflect a good holiday shopping season in Moffat County.

Construction/Real Estate/Foreclosures

In November 2011, there were four new residential construction permits in Routt County.  This is the same monthly pace we have seen throughout 2011.  All of the new residential construction permits (Jan-Nov 2011) have been for single-family homes averaging about $1 million each in construction values.

There is some good news concerning the real estate situation in both counties.  The number of homes for sale has declined about 10%.  By the end of December 2011, there were 1,009 homes for sale in Routt County and 209 in Moffat County.  There were 33 single-family home sales in Routt County during November.  This is the most sales that have occurred during any month in 2011.

During December, there was a decline in the number of foreclosure notices filed on Routt County homes compared to the annual average for 2011. 

Energy

Coal Mining - No New Data to Report / Showing data from August 2011

Oil & Gas - As of December 1, 2011 year to date there have been 84 drilling permits approved in Moffat County.  18 of the 84 drilling permits have started drilling for a ratio of 21%.  Essentially what this means is that only 1 out of 5 wells approved have started drilling.  In Routt County seven drilling permits have been approved and only one has started drilling. 

The number of wells producing in September 2011 (most current data available) in both counties are down about 10% from the same period in 2010  It is important to remember that the number of wells in Routt County is a fraction of the number of wells in Moffat County.  Moffat County’s number of producing wells is at 684 which is 95% greater than Routt County.  For comparison, in September the average well in Moffat County produced 2.5 Million BTUs compared to 1.6 Million BTUs for the same period in 2010.  In Routt County, the numbers are 0.73 Million BTUs compared to 0.90.

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