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 2014 PDF Download Snapshot

Monthly Economic Indicators

The Manpower Employment Outlook Survey expects third quarter hiring in the Denver-Aurora-Broomfield MSA to grow at a brisk pace. The percentage of companies hiring increased 6 percentage points between the second and third quarter, with 26 percent of companies expanding their employment levels. This was the highest percent of companies planning to hire since the fourth quarter of 2008.

Housing foreclosures throughout the Metro Denver area improved in each of the seven counties between April 2013 and 2014. Metro Denver recorded a 32.1 percent decrease in foreclosures through April compared with the previous year and was 4.1 percent lower than the previous month.

Residential building permits through the Metro Denver area rose through the end of April compared with the prior year, marking the fourth month of over-the-year gains. Metro Denver reported a 100.7 percent increase in total permits issued between April 2013 and 2014, with an additional 774 permits issued.

Economic Indicators July 2014 2014 YTD

Nonfarm Employment Growth

+12,500 Increase

Employment increased 0.8% from Apr. to May

+41,000 Increase

YTD employment up 2.8% through May

% Companies Hiring (Denver Area)

26 % Increase

Companies expecting to add workers increased from 2Q 2014 to 3Q 2014

21 % Decrease

YTD average down 1 percentage point compared with 2013

Unemployment Rate

5.2 % No change

Unemployment flat Apr. to May

5.9 % Decrease

Down from 2013 YTD average of 6.9%

Initial Unemployment Insurance Claims

-0.7 % Decrease

Claims decreased from Apr. to May

-11.0 % Decrease

YTD average claims decreased 11% through May 2014

Total Retail Sales

-0.6 % Decrease

Metro sales decreased from Jan. to Feb.

2.3 % Increase

YTD sales up through Feb. 2014

Consumer Confidence Index

79 Decrease

Index down 14.6% from May to June

86.3 Increase

YTD average up 25% through June 2014

Hotel Occupancy

75.4 % Increase

Increased 1.1 percentage points from Apr. to May

72.0 % Increase

YTD occupancy up 10.8%

DIA Passengers

-8.4 % Decrease

Passengers decreased from Mar. to Apr.

2.1 % Increase

YTD passengers increased through Apr. 2014

Bloomberg Colorado Index

660.5 Increase

Index up 6.8% from May to June

+8.2 % Increase

YTD Return through June 2014

Dow Jones / Industrial Average

16,826.6 Increase

Index increased 0.7% from May to June

1.5 % Increase

YTD Return through June 2014

Home Sales (Closed)

5,064 Increase

Sales up 14.6% from Apr. to May

18,769 Decrease

YTD sales down 5.4% through May 2014

Median Home Price (Denver-Aurora MSA)

$288,400 Increase

Up 3.3% from 4Q 2013 to 1Q 2014

$288,400 Increase

YTD price 10.4% higher through 1Q 2014

Foreclosures

521 Decrease

Down 4.1% from Mar. to Apr.

2,132 Decrease

Down 30.3% YTD through Apr. 2014

Residential Building Permits (Total)

1,543 Decrease

Permits decreased 10% from Mar. to Apr.

6,086 Increase

YTD permits up 71.8% through Apr. 2014

Apartment Vacancy Rate

5.1 % Decrease

Vacancy decreased 0.1 percentage points from 4Q 2013 to 1Q 2014

5.1 % Increase

YTD average up 0.5 percentage points through 1Q 2014

Office Vacancy Rate (with Sublet)

11.2 % Decrease

Vacancy rate down 0.3 percentage points from 1Q 2014 to 2Q 2014

-0.8 percentage points Decrease

2Q 2014 vacancy rate down from 12% one year ago

Industrial Vacancy Rate (with Sublet)

3.7 % Decrease

Vacancy rate down 0.4 percentage points from 4Q 2013 to 1Q 2014

-1.7 percentage points Decrease

2Q 2014 vacancy rate down from 5.4% one year ago

Retail Space Vacancy Rate (with Sublet)

5.9 % Decrease

Vacancy rate down 0.1 percentage point from 1Q 2014 to 2Q 2014

-0.6 percentage points Decrease

2Q 2014 vacancy rate down from 6.5% one year ago

Economic Indicators July 2014 2014 YTD