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.

August 2015 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 3.2 percent between June 2014 and 2015, or an additional 49,600 jobs during the period. The employment growth consisted of a 3.5 percent increase in the Denver-Aurora-Lakewood MSA, or an additional 46,700 jobs, and a 1.7 percent increase in the Boulder MSA, representing 2,900 jobs.

Existing home sales in Metro Denver increased between May and June, rising 14.9 percent to 5,845 total homes sold during the month of June. June home sales were 2.7 percent above the previous year’s level. Unsold homes on the market were 4.8 percent higher in June than May, but 26.2 percent lower than the previous year’s inventory level.

The Metro Denver apartment vacancy rate fell 0.4 percentage points to 4.5 percent between the first and second quarters of 2015. The vacancy rate was also 0.2 percentage points below the prior year. The second quarter average rental rate in Metro Denver ($1,265) was 5.1 percent higher than the previous quarter’s level and 13.3 percent higher than the prior year, representing an increase of $148 in average monthly rental rates over-the-year. 

Economic Indicators August 2015 2015 YTD

Nonfarm Employment Growth

+13,400 Increase

Employment up 0.9% from May to June

+49,800 Increase

YTD employment up 3.3% through June

% Companies Hiring (Denver Area)

26 % Increase

Companies expecting to add workers increased from 2Q 2015 to 3Q 2015

23 % Increase

YTD average up 2 percentage points compared with 2014

Unemployment Rate

4.3 % Decrease

Unemployment up 0.3 percentage points from May to June

4.2 % Decrease

Down from 2014 YTD average of 5.4%

Initial Unemployment Insurance Claims

-17.5 % Decrease

Claims decreased from May to June

-8.8 % Decrease

YTD average claims decreased through June 2015

Total Retail Sales

70.3 % Increase

Metro sales increased from Nov. to Dec.

4 % Increase

YTD sales up through Dec. 2014

Consumer Confidence Index

116.3 Increase

Index up 1.1% from June to July

109.3 Increase

YTD average up 24.8% through July 2015

Hotel Occupancy

88.7 % Increase

Increased 8.6 percentage points from May to June

75.4 % Increase

YTD occupancy up 1.3 percentage points from last year

DIA Passengers

7.3 % Increase

Passengers increased from April to May

-0.7 % Decrease

YTD passengers decreased through May 2015

Bloomberg Colorado Index

606.7 Increase

Index up 2.8% from June to July

1 % Increase

YTD return through July 2015

Dow Jones / Industrial Average

17,689.9 Increase

Index up 0.4% from June to July

-0.8 % Decrease

YTD return through July 2015

Home Sales (Closed)

5,845 Increase

Sales up 14.9% from May to June

25,326 Increase

YTD sales up 1.6% through May 2015

Median Home Price (Denver-Aurora MSA)

$338,100 Increase

Up 7.4% from 4Q 2014 to 1Q 2015

$338,100 Increase

YTD price 17.2% higher through 1Q 2015

Foreclosures

344 Increase

Up 13.9% from May to June

1,848 Decrease

Down 38.8% YTD through June 2015

Residential Building Permits (Total)

1,644 Increase

Permits increased 13.9% from May to June

8,948 Increase

YTD permits up 8.1% through June 2015

Apartment Vacancy Rate

4.5 % Decrease

Vacancy decreased 0.4 percentage points from 1Q 2015 to 2Q 2015

4.7 % Decrease

YTD average down from 2Q 2014

Office Vacancy Rate (with Sublet)

10.4 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2015 to 2Q 2015

-0.9 percentage point Decrease

2Q 2015 vacancy rate down from 11.3% one year ago

Industrial Vacancy Rate (with Sublet)

3.2 % Decrease

Vacancy rate down 0.1 percentage points from 1Q 2015 to 2Q 2015

-0.8 percentage points Decrease

2Q 2015 vacancy rate down from 4.0% one year ago

Retail Space Vacancy Rate (with Sublet)

5.2 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2015 to 2Q 2015

-0.6 percentage points Decrease

2Q 2015 vacancy rate down from 5.8% one year ago

Economic Indicators August 2015 2015 YTD