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.

April 2016 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 2.5 percent between February 2015 and 2016, or an additional 38,600 jobs during the period. The employment growth consisted of a 2.6 percent increase in the Denver-Aurora-Lakewood MSA, or an additional 35,600 jobs, and a 1.7 percent increase in the Boulder MSA, representing 3,000 jobs.

Retail sales in Metro Denver increased 5.3 percent between June 2014 and 2015. Retail sales for June 2015 totaled over $10.5 billion, an absolute increase of $529 million over the June 2014 total of $10 billion. Four of the seven Metro Denver counties reported year-over-year growth.

Existing home sales in Metro Denver increased between January 2015 and 2016, rising 13.2 percent to 3,318 homes sold during the month. The average sales price for single-family homes rose 13 percent over-the-year to $410,009, while the average sales price of condominiums ($270,291) increased 30.4 percent during the same period. 

Economic Indicators April 2016 2016 YTD

Nonfarm Employment Growth

+9,500 Increase

Employment up 0.6% from Jan. to Feb.

+38,300 Increase

YTD employment up 2.5% through Feb.

% Companies Hiring (Denver Area)

23 % No change

Companies expecting to add workers was unchanged from 1Q 2016 to 2Q 2016

23 % Increase

YTD average up 1 percentage point compared with 2015

Unemployment Rate

3.1 % Increase

Unemployment up 0.1 percentage points from Jan. to Feb.

3 % Decrease

Down from 2015 YTD average of 4.5%

Initial Unemployment Insurance Claims

-9.4 % Decrease

Claims decreased from Jan. To Feb.

-1.8 % Decrease

YTD average claims decreased through Feb. 2016

Total Retail Sales

22.3 % Increase

Metro sales increased from May to June

3.2 % Increase

YTD sales up through June 2015

Consumer Confidence Index

86 Decrease

Index down 7.7% from Feb. to March

94.8 Decrease

YTD average down 13.3% through March 2016

Hotel Occupancy

68.2 % Increase

Increased 5.5 percentage points from Jan. to Feb.

65.4 % Decrease

YTD occupancy down 3.7 percentage points from last year

DIA Passengers

-6.4 % Decrease

Passengers decreased from Dec. to Jan.

7.6 % Increase

YTD passengers increased through Jan. 2016

Bloomberg Colorado Index

497.7 Increase

Index up 5.1% from Feb. to March

0.1 % Increase

YTD return through March 2016

Dow Jones / Industrial Average

17,661.7 Increase

Index up 6.9% from Feb. to March

1.4 % Increase

YTD return through March 2016

Home Sales (Closed)

3,318 Decrease

Sales down 36.3% from Dec. to Jan.

3,318 Increase

YTD sales up 13.2% through Jan. 2016

Median Home Price (Denver-Aurora MSA)

$353,500 Increase

Up 0.1% from 3Q 2015 to 4Q 2015

$353,600 Increase

YTD price 14% higher through 4Q 2015

Foreclosures

369 Increase

Up 53.8% from Jan. to Feb.

609 Increase

Up 36.2% YTD through Feb. 2016

Residential Building Permits (Total)

2,207 Increase

Permits increased 14.6% from Nov. to Dec.

18,885 Increase

YTD permits up 13.1% through Dec. 2015

Apartment Vacancy Rate

6.8 % Increase

Vacancy increased 1.8 percentage points from 3Q 2015 to 4Q 2015

5.3 % Increase

YTD average up 0.7 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Decrease

Vacancy rate down 0.3 percentage points from 4Q 2015 to 1Q 2016

-0.7 percentage points Decrease

1Q 2016 vacancy rate down from 10.7% one year ago

Industrial Vacancy Rate (with Sublet)

3.3 % Decrease

Vacancy rate down 0.1 percentage points from 4Q 2015 to 1Q 2016

+0.0 percentage points No change

1Q 2016 vacancy unchanged from one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Decrease

Vacancy rate down 0.2 percentage points from 4Q 2015 to 1Q 2016

-0.3 percentage points Decrease

1Q 2016 vacancy rate down from 5.2% one year ago

Economic Indicators April 2016 2016 YTD