Monthly Economic Indicators

This monthly report provides a snapshot of metro area economic activity in labor and employment, the consumer sector, and residential and commercial real estate.

December 2014 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the Metro Denver area recorded the lowest level since October of 2007. In October, the Metro Denver unemployment rate fell to 3.6 percent, a 0.3 percentage point decline from the September level and a 2.4 percentage point decline from October 2013.

Colorado is included in the Mountain Region Index and the area reported significant growth in consumer confidence. The index rose to 102.8 in November from the October revised level of 74.1, increasing 38.7 percent over-the-month and 42.5 percent over-the-year.

Metro Denver reported a 52.4 percent increase in total residential building permits between October 2013 and 2014, with 689 more permits issued. Single-family detached permits and multi-family permits increased significantly during the same period, rising 11.9 percent and 98.1 percent, respectively.

Economic Indicators December 2014 2014 YTD

Nonfarm Employment Growth

+2,700 Increase

Employment up 0.2% from Sep. to Oct.

+40,800 Increase

YTD employment up 2.8% through Oct.

% Companies Hiring (Denver Area)

21 % Decrease

Companies expecting to add workers decreased from 3Q 2014 to 4Q 2014

21 % No change

YTD average unchanged compared with 2013

Unemployment Rate

3.6 % Decrease

Unemployment decreased 0.3 percentage points Sep. to Oct.

5.2 % Decrease

Down from 2013 YTD average of 6.6%

Initial Unemployment Insurance Claims

11.2 % Increase

Claims increased from Sep. to Oct.

-14.3 % Decrease

YTD average claims decreased through Oct. 2014

Total Retail Sales

6.2 % Increase

Metro sales increased from Apr. to May

3.4 % Increase

YTD sales up through May 2014

Consumer Confidence Index

102.8 Increase

Index up 38.7% from Oct. to Nov.

88.4 Increase

YTD average up 20% through Nov. 2014

Hotel Occupancy

81.7 % Decrease

Decreased 0.4 percentage points from Sep. to Oct.

78.6 % Increase

YTD occupancy up 5.4 percentage points from last year

DIA Passengers

-9.0 % Decrease

Passengers decreased from Aug. to Sep.

2.3 % Increase

YTD passengers increased through Sep. 2014

Bloomberg Colorado Index

604.9 Decrease

Index down 0.6% from Oct. to Nov.

-0.9 % Decrease

YTD return through Nov. 2014

Dow Jones / Industrial Average

17,828.2 Increase

Index increased 2.5% from Oct. to Nov.

7.6 % Increase

YTD return through Nov. 2014

Home Sales (Closed)

4,348 Decrease

Sales down 11.4% from Sep. to Oct.

45,519 Decrease

YTD sales down 1.5% through Oct. 2014

Median Home Price (Denver-Aurora MSA)

$315,500 Decrease

Down 0.3% from 2Q 2014 to 3Q 2014

$306,700 Increase

YTD price 10.3% higher through 3Q 2014

Foreclosures

432 Increase

Up 26.3% from Sep. to Oct.

4,545 Decrease

Down 32.1% YTD through Oct. 2014

Residential Building Permits (Total)

2,005 Increase

Permits increased 30.3% from Sep. to Oct.

14,749 Increase

YTD permits up 10.6% through Oct. 2014

Apartment Vacancy Rate

3.9 % Decrease

Vacancy decreased 0.8 percentage points from 2Q 2014 to 3Q 2014

4.6 % Increase

YTD average up 0.2 percentage points through 3Q 2014

Office Vacancy Rate (with Sublet)

11.0 % Decrease

Vacancy rate down 0.3 percentage points from 2Q 2014 to 3Q 2014

-0.8 percentage points Decrease

3Q 2014 vacancy rate down from 11.8% one year ago

Industrial Vacancy Rate (with Sublet)

3.9 % Increase

Vacancy rate up 0.1 percentage points from 2Q 2014 to 3Q 2014

-0.8 percentage points Decrease

3Q 2014 vacancy rate down from 4.7% one year ago

Retail Space Vacancy Rate (with Sublet)

5.8 % Decrease

Vacancy rate down 0.1 percentage point from 2Q 2014 to 3Q 2014

-0.6 percentage points Decrease

3Q 2014 vacancy rate down from 6.4% one year ago

Economic Indicators December 2014 2014 YTD