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.

November 2016 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the Metro Denver area decreased between August and September, falling 0.3 percentage points to a 2.8 percent unemployment rate. Further, all seven Metro Denver counties reported decreases in the unemployment rate between August and September.

Existing home sales in Metro Denver increased between July and August, rising 4 percent to 6,124 homes sold during the month. Further, home sales were 0.4 percent higher between August 2015 and 2016.

Residential building permits for the Metro Denver area increased in September compared with the prior year. Metro Denver reported a 5.4 percent increase in total permits issued between September 2015 and 2016, with 98 additional permits issued. 

Economic Indicators November 2016 Year-Over-Year 2016 YTD

Nonfarm Employment Growth

+2,400 Increase

Employment up 0.1% from Aug. to Sept.

+51,800 Increase

Employment up 3.3% from Sept. 2015 to 2016

+48,600 Increase

YTD employment up 3.1% through Sept.

% Companies Hiring (Denver Area)

28 % Increase

Companies expecting to add workers rose 3 percentage points from 3Q 2016 to 4Q 2016

28 % Increase

Companies expecting to add workers rose 9 percentage points from 4Q 2015 to 4Q 2016

25 % Increase

YTD average up 3 percentage points compared with 2015

Unemployment Rate

2.8 % Decrease

Unemployment was down 0.3 percentage points from Aug. to Sept.

-0.2 percentage points Decrease

Unemployment rate down from Sept. 2015 to 2016

3.3 % Decrease

Down from 2015 YTD average of 3.9%

Initial Unemployment Insurance Claims

-7 % Decrease

Claims decreased from Aug. to Sept.

-6.1 % Decrease

Claims decreased from Sept. 2015 to 2016

-3.5 % Decrease

YTD average claims decreased through Sept. 2016

Total Retail Sales

-1.1 % Decrease

Metro sales decreased from Jan. to Feb.

1.3 % Increase

Metro sales up from Feb. 2015 to 2016

-2.8 % Decrease

YTD sales down through Feb. 2016

Consumer Confidence Index

91.9 Decrease

Index down 10.1% from Sept. to Oct.

-10.9 % Decrease

Index down from Oct. 2015 to 2016

99.5 Decrease

YTD average down 9.8% through Oct. 2016

Hotel Occupancy

83.8 % Decrease

Decreased 2.4 percentage points from Aug. to Sept.

1.3 percentage points Increase

Occupancy increased from Sept. 2015 to 2016

77.9 % Decrease

YTD occupancy down 1.3% from last year

DIA Passengers

-1.4 % Decrease

Passengers down from July to Aug.

10.2 % Increase

Passengers up from Aug. 2015 to 2016

7.6 % Increase

YTD passengers increased through Aug. 2016

Bloomberg Colorado Index

493.2 Decrease

Index down 5% from Sept. to Oct.

-11.6 % Decrease

Index down from Oct. 2015 to 2016

-0.8 % Decrease

YTD return through Oct. 2016

Dow Jones / Industrial Average

18,142.4 Decrease

Index down 0.9% from Sept. to Oct.

2.7 % Increase

Index up from Oct. 2015 to 2016

4.1 % Increase

YTD return through Oct. 2016

Home Sales (Closed)

6,124 Increase

Sales up 4% from July to Aug.

0.4 % Increase

Sales up from Aug. 2015 to 2016

40,076 Decrease

YTD sales down 4.1% through Aug. 2016

Median Home Price (Denver-Aurora MSA)

$394,400 Increase

Up 6.9% from 1Q 2016 to 2Q 2016

8.7 % Increase

Price up from 2Q 2015 to 2Q 2016

$381,700 Increase

YTD price 8.9% higher through 2Q 2016

Foreclosures

237 Decrease

Down 12.9% from Aug. to Sept.

-8.5 % Decrease

Down from Sept. 2015 to 2016

2,415 Decrease

Down 10.4% YTD through Sept. 2016

Residential Building Permits (Total)

1,907 Increase

Permits increased 14.7% from Aug. to Sept.

5.4 % Increase

Permits up from Sept. 2015 to 2016

15,686 Increase

YTD permits up 15% through Sept. 2016

Apartment Vacancy Rate

5.4 % Decrease

Vacancy decreased 0.7 percentage points from 1Q 2016 to 2Q 2016

0.9 percentage points Increase

Vacancy increased from 2Q 2015 to 2Q 2016

5.8 % Increase

YTD average up 1.1 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Increase

Vacancy rate up 0.3 percentage points from 2Q 2016 to 3Q 2016

-0.4 percentage points Decrease

3Q 2016 vacancy rate down from 10.4% one year ago

-0.4 percentage points Decrease

3Q 2016 vacancy rate down from 10.4% one year ago

Industrial Vacancy Rate (with Sublet)

3.7 % Increase

Vacancy rate up 0.2 percentage points from 2Q 2016 to 3Q 2016

+0.8 percentage points Increase

3Q 2016 vacancy up from 2.9% one year ago

+0.8 percentage points Increase

3Q 2016 vacancy up from 2.9% one year ago

Retail Space Vacancy Rate (with Sublet)

4.8 % Decrease

Vacancy rate down 0.1 percentage point from 2Q 2016 to 3Q 2016

-0.3 percentage points Decrease

3Q 2016 vacancy rate down from 5.1% one year ago

-0.3 percentage points Decrease

3Q 2016 vacancy rate down from 5.1% one year ago

Economic Indicators November 2016 Year-Over-Year 2016 YTD