Ravalli County: housing construction continues to lag.

• Author: Sylvester, James T.
• Position: Statistical data

Recent economic statistics demonstrate Ravalli County's economy is slowly emerging from the downturn experienced in the Great Recession.

Income of Ravalli County residents working in other counties is the largest source of income. The rate of growth in this income stream slowed in the past few years as the housing price difference with Missoula closed. Fuel prices also influence commuting between the two counties--lower fuel prices may increase commuting.

Housing construction, a mainstay of the Ravalli economy, continues to lag, with employment levels still half of what they were in 2007. Construction employment is forecast to remain well below 2007 levels for the foreseeable future.

Metal manufacturing, including small arms manufacturing, continues to expand. Wood products manufacturing depends on national housing markets. Wood supply is an ongoing concern, but the market for log homes dominates the Ravalli County wood products.

Glaxo Smith Kline, a major pharmaceutical company, and the U.S. Centers for Disease Control's Rocky Mountain Lab, employ medical researchers with average annual incomes double the county average of $25,000. Both also employ support personnel stabilizing the local labor market.

Nonfarm earnings are forecast to increase about 2.8 percent per year through 2018.

James T. Sylvester is an economist at the Bureau of Business and Economic Research.

Ravalli County Profile Total Population, 2014 41,000 Percent Change in...