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.

July 2016 PDF Download Snapshot

Monthly Economic Indicators

The Manpower Employment Outlook Survey expects third quarter 2016 hiring in the Denver-Aurora MSA to increase from the prior quarter’s level, with the percentage of companies expecting to expand their employment levels rising 2 percentage points to 25 percent.

Metro Denver retail sales for 2015 increased 1.2 percent to nearly $111 trillion compared with the 2014 level of $109.7 trillion. Six of the seven Metro Denver counties recorded increases in annual retail sales in 2015.

Residential building permits for the Metro Denver area increased in May compared with the prior year. Metro Denver reported a 42.2 percent increase in total permits issued between May 2015 and 2016, with 610 additional permits issued. 

Economic Indicators July 2016 Year-Over-Year 2016 YTD

Nonfarm Employment Growth

+14,000 Increase

Employment up 0.9% from April to May

+48,100 Increase

Employment up 3.1% from May 2015 to 2016

+44,100 Increase

YTD employment up 2.8% through May

% Companies Hiring (Denver Area)

25 % Increase

Companies expecting to add workers rose 2 percentage points from 2Q 2016 to 3Q 2016

25 % Decrease

Companies expecting to add workers fell 1 percentage point from 3Q 2015 to 3Q 2016

24 % Increase

YTD average up 1 percentage point compared with 2015

Unemployment Rate

3.3 % No change

Unemployment was unchanged from April to May

-0.4 percentage points Decrease

Unemployment rate down from May 2015 to 2016

3.2 % Decrease

Down from 2015 YTD average of 4.1%

Initial Unemployment Insurance Claims

-7.6 % Decrease

Claims decreased from April to May

-11.5 % Decrease

Claims decreased from May 2015 to 2016

-0.4 % Decrease

YTD average claims decreased through May 2016

Total Retail Sales

76 % Increase

Metro sales increased from Nov. to Dec.

-1 % Decrease

1.2 % Increase

YTD sales up through Nov. 2015

Consumer Confidence Index

95.4 Decrease

Index down 17.6% from May to June

-17 % Decrease

Index down from June 2015 to 2016

98 Decrease

YTD average down 9.3% through June 2016

Hotel Occupancy

77.8 % Increase

Increased 3.6 percentage points from April to May

-2.3 percentage points Decrease

Occupancy decreased from May 2015 to 2016

70.7 % Decrease

YTD occupancy down 2.8 percent from last year

DIA Passengers

-6.7 % Decrease

Passengers down from March to April

3.6 % Increase

Passengers up from April 2015 to 2016

6 % Increase

YTD passengers increased through April 2016

Bloomberg Colorado Index

514.6 Increase

Index up 0.8% from May to June

-12.8 % Decrease

Index down from June 2015 to 2016

3.6 % Increase

YTD return through June 2016

Dow Jones / Industrial Average

17,930 Increase

Index up 0.8% from May to June

1.8 % Increase

Index up from June 2015 to 2016

2.9 % Increase

YTD return through June 2016

Home Sales (Closed)

4,913 Increase

Sales up 4.6% from March to April

-6.1 % Decrease

Sales down from April 2015 to 2016

16,124 Increase

YTD sales up 1.8% through April 2016

Median Home Price (Denver-Aurora MSA)

$369,000 Increase

Up 4.4% from 4Q 2015 to 1Q 2016

9.1 % Increase

Price up from 1Q 2015 to 1Q 2016

$369,000 Increase

YTD price 9.1% higher through 1Q 2016

Foreclosures

235 Decrease

Down 12.6% from April to May

-20.3 % Decrease

Down from May 2015 to 2016

1,445 Decrease

Down 1.5% YTD through May 2016

Residential Building Permits (Total)

2,054 Increase

Permits increased 1.3% from April to May

42.2 % Increase

Permits up from May 2015 to 2016

8,860 Increase

YTD permits up 21.3% through May 2016

Apartment Vacancy Rate

6.1 % Decrease

Vacancy decreased 0.7 percentage points from 4Q 2015 to 1Q 2016

+1.2 percentage points Increase

Vacancy increased from 1Q 2015 to 1Q 2016

6.1 % Increase

YTD average up 1.2 percentage points from last year

Office Vacancy Rate (with Sublet)

9.6 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2016 to 2Q 2016

-0.7 percentage points Decrease

2Q 2016 vacancy rate down from 10.3% one year ago

-0.7 percentage points Decrease

2Q 2016 vacancy rate down from 10.3% one year ago

Industrial Vacancy Rate (with Sublet)

3.9 % Increase

Vacancy rate up 0.5 percentage points from 1Q 2016 to 2Q 2016

+0.8 percentage points Increase

2Q 2016 vacancy up from 3.1% one year ago

+0.8 percentage points Increase

2Q 2016 vacancy up from 3.1% one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2016 to 2Q 2016

-0.4 percentage points Decrease

2Q 2016 vacancy rate down from 5.3% one year ago

-0.4 percentage points Decrease

2Q 2016 vacancy rate down from 5.3% one year ago

Economic Indicators July 2016 Year-Over-Year 2016 YTD