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.

September 2020 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate in Metro Denver declined from 11 percent in June to 7.7 percent in July 2020, primarily due to the decline in the size of the labor force.

National retail sales activity rose 3.4 percent over-the-year in June, with nine of the 13 supersectors reporting increases during the period. 

Home sales in Metro Denver totaled 6,584 in July, up 6.7 percent from the same time last year. Unsold homes on the market were 31.1 percent lower in July 2020 compared with the same time last year. 

Economic Indicators Current Month Year-Over-Year YTD

Nonfarm Employment Growth

5,800 Increase

Employment up 0.4% from June to July

-103,100 Decrease

Employment down 5.9% from July 2019 to 2020

-57,200 Decrease

YTD employment down 3.3% through July

% Companies Hiring (Denver Area)

21 % Decrease

Companies hiring fell 6 percentage points from 2Q 2020 to 3Q 2020

21 % Decrease

Companies hiring fell 8 percentage points from 3Q 2019 to 3Q 2020

25 % Decrease

YTD average down 4 percentage points compared with 2019

Unemployment Rate

7.7 % Decrease

Unemployment down 3.2 percentage points from June to July

5.1 percentage points Increase

Unemployment up from July 2019 to 2020

7.3 % Increase

Up 4.5 percentage points from 2019 YTD average

Initial Unemployment Insurance Claims

-15.6 % Decrease

Claims decreased from June to July

446.1 % Increase

Claims increased from July 2019 to 2020

787.5 % Increase

YTD average claims increased through July 2020

Total Retail Sales

5.5 % Increase

National sales increased from May to June

3.4 % Increase

National sales increased from June 2019 to 2020

-3.2 % Decrease

YTD sales decreased through June 2020

Consumer Confidence Index

85.1 Decrease

Index down 10.9 percent from June to July

-40.9 % Decrease

Index down from July 2019 to 2020

105.8 Decrease

YTD average down 19.6% through July 2020

Hotel Occupancy

43.0 % Increase

Increased 7.3 percentage points from June to July

-46.1 percentage points Decrease

Occupancy decreased from July 2019 to July 2020

42.2 % Decrease

YTD occupancy down from last year

DIA Passengers

109.7 % Increase

Passengers up from May to June

-72.6 % Decrease

Passengers down from June 2019 to 2020

-51.3 % Decrease

YTD passengers decreased through June 2020

Bloomberg Colorado Index

673.6 Increase

Index up 8.9% from July to August

16.3 % Increase

Index up from August 2019 to 2020

10.9 % Increase

YTD return up through August 2020

Dow Jones / Industrial Average

28,430.1 Increase

Index up 7.6% from July to August

7.7 % Increase

Index up from August 2019 to 2020

-0.4 % Decrease

YTD return down through August 2020

Home Sales (Closed)

6,584 Increase

Sales up 27.4% between June and July

6.7 % Increase

Sales up from July 2019 to 2020

29,830 Decrease

YTD sales down 10.5% through July 2020

Median Home Price (Denver-Aurora MSA)

$478,400 Increase

Up 1% from 1Q 2020 to 2Q 2020

1.5 % Increase

Price up from 2Q 2019 to 2Q 2020

$476,100 Increase

YTD price 3.7% higher through 2Q 2020

Foreclosures

35 Decrease

Down 40.7% from June to July

-83.0 % Decrease

Down from July 2019 to 2020

831 Decrease

Down 40.5% YTD through July 2020

Residential Building Permits (Total)

1,500 Decrease

Permits decreased 20.8% from June to July

-15.3 % Decrease

Permits down July 2019 to July 2020

9,785 Decrease

YTD permits down 14.6% through July 2020

Apartment Vacancy Rate

5.1 % Decrease

Vacancy decreased 0.8 percentage points from 1Q 2020 to 2Q 2020

0.1 percentage points Increase

Vacancy increased from 2Q 2019 to 2Q 2020

5.5 % Increase

YTD average up 0.3 percentage points from last year

Office Vacancy Rate (with Sublet)

10.6 % Increase

Vacancy rate up 0.6 percentage points from 1Q 2020 to 2Q 2020

+0.9 percentage points Increase

2Q 2020 vacancy up from 9.7% one year ago

+0.9 percentage points Increase

2Q 2020 vacancy up from 9.7% one year ago

Industrial Vacancy Rate (with Sublet)

5.8 % Decrease

Vacancy rate increased 0.6 percentage points from 1Q 2020 to 2Q 2020

+1 percentage point Increase

2Q 2020 vacancy up from 4.8% one year ago

+1 percentage point Increase

2Q 2020 vacancy up from 4.8% one year ago

Retail Space Vacancy Rate (with Sublet)

5.0 % Increase

Vacancy rate increased 0.3 percentage points from 1Q 2020 to 2Q 2020

+0.7 percentage points Increase

2Q 2020 vacancy up from 4.3% one year ago

+0.7 percentage points Increase

2Q 2020 vacancy up from 4.3% one year ago

Economic Indicators Current Month Year-Over-Year YTD