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.

February 2017 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver increased 3.3 percent between December 2015 and 2016, adding 52,000 jobs during the period. The employment growth consisted of a 3.2 percent increase in the Denver-Aurora-Lakewood MSA, adding 44,800 jobs, and a 3.9 increase in the Boulder-Longmont MSA, representing an additional 7,200 jobs.

Existing home sales in Metro Denver increased between November and December, increasing 2.3 percent to 4,874 homes sold during the month. The average sales price for single-family homes rose 5.1 percent over-the-year to $421,962, while the average sales price of condominiums ($277,384) increased 21.3 percent during the same period.

Colorado is included in the Mountain Region Index and the area reported an increase in consumer confidence between December and January. The index rose to 124.3 in January from the December revised level of 118.7, increase 4.7 percent over-the-month. 

Economic Indicators February 2017 Year-Over-Year 2017 YTD

Nonfarm Employment Growth

-1,400 Decrease

Employment down 0.1% from Nov. to Dec.

+52,000 Increase

Employment up 3.3% from Dec. 2015 to 2016

+50,000 Increase

YTD employment up 3.2% through Dec.

% Companies Hiring (Denver Area)

25 % Decrease

Companies expecting to add workers fell 3 percentage points from 4Q 2016 to 1Q 2017

25 % Increase

Companies expecting to add workers rose 2 percentage points from 1Q 2016 to 1Q 2017

25 % Increase

YTD average up 2 percentage points compared with 2016

Unemployment Rate

2.6 % No change

Unemployment recorded no change between Nov. and Dec.

-0.5 percentage points Decrease

Unemployment rate down from Dec. 2015 to 2016

3.1 % Decrease

Down from 2015 YTD average of 3.6%

Initial Unemployment Insurance Claims

+1.1 % Increase

Claims increased from Nov. to Dec.

+1.6 % Increase

Claims increased from Dec. 2015 to 2016

-6.9 % Decrease

YTD average claims decreased through Dec. 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

124.3 Increase

Index up 4.7% from Dec. to Jan.

18.2 % Increase

Index up from Jan. 2016 to 2017

124.3 Increase

YTD average up 18.2% through Jan. 2017

Hotel Occupancy

55.9 % Decrease

Decreased 8.7 percentage points from Nov. to Dec.

+0.4 percentage points Increase

Occupancy increased from Dec. 2015 to 2016

75 % Decrease

YTD occupancy down 0.9 percentage points from last year

DIA Passengers

-10.1 % Decrease

Passengers down from Oct. to Nov.

7.1 % Increase

Passengers up from Nov. 2015 to 2016

8.1 % Increase

YTD passengers increased through Nov. 2016

Bloomberg Colorado Index

532.9 Increase

Index up 3.1% from Dec. to Jan.

15.1 % Increase

Index up from Jan. 2016 to 2017

3.1 % Increase

YTD return through Jan. 2017

Dow Jones / Industrial Average

19,864.1 Increase

Index up 0.5% from Dec. to Jan.

20.6 % Increase

Index up from Jan 2016 to 2017

0.5 % Increase

YTD return through Jan. 2017

Home Sales (Closed)

4,874 Increase

Sales up 2.3% from Nov. to Dec.

-6.5 % Decrease

Sales down from Dec. 2015 to 2016

60,289 Increase

YTD sales up 7.3% through Dec. 2016

Median Home Price (Denver-Aurora MSA)

$386,800 Decrease

Down 1.9% from 2Q 2016 to 3Q 2016

9.6 % Increase

Price up from 3Q 2015 to 3Q 2016

$383,400 Increase

YTD price 9.1% higher through 3Q 2016

Foreclosures

273 Increase

Up 8.8% from Nov. to Dec.

18 % Decrease

Down from Dec. 2015 to 2016

3,195 Increase

Up 0.9 % YTD through Dec. 2016

Residential Building Permits (Total)

1,860 Decrease

Permits decreased 20% from Nov. to Dec.

15.7 % Decrease

Permits down from Dec. 2015 to 2016

23,027 Increase

YTD permits up 22% through Dec. 2016

Apartment Vacancy Rate

6.2 % Increase

Vacancy increased 1.1 percentage points from 3Q 2016 to 4Q 2016

-0.4 percentage points Decrease

Vacancy decreased from 4Q 2015 to 4Q 2016

5.7 % Increase

YTD average up 0.4 percentage points from last year

Office Vacancy Rate (with Sublet)

10.2 % Increase

Vacancy rate up 0.1 percentage points from 3Q 2016 to 4Q 2016

0 percentage points No change

Vacancy rate unchanged from 4Q 2015 to 4Q 2016

0 percentage points No change

Vacancy rate unchanged from 4Q 2015 to 4Q 2016

Industrial Vacancy Rate (with Sublet)

4.1 % Increase

Vacancy rate up 0.5 percentage points from 3Q 2016 to 4Q 2016

+0.8 percentage points Increase

4Q 2016 vacancy up from 3.3% one year ago

+0.8 percentage points Increase

4Q 2016 vacancy up from 3.3% one year ago

Retail Space Vacancy Rate (with Sublet)

4.8 % Decrease

Vacancy rate down 0.1 percentage point from 3Q 2016 to 4Q 2016

-0.4 percentage points Decrease

4Q 2016 vacancy rate down from 5.2% one year ago

-0.4 percentage points Decrease

4Q 2016 vacancy rate down from 5.2% one year ago

Economic Indicators February 2017 Year-Over-Year 2017 YTD