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.

January 2015 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver increased 2.7 percent between November 2013 and 2014, or an additional 40,000 jobs during the period. The employment growth consisted of a 2.7 percent increase in the Denver-Aurora MSA, or an additional 36,100 jobs, and a 2.2 percent increase in the Boulder MSA, representing 3,900 jobs.

Housing foreclosures throughout the Metro Denver area declined in four of the seven counties between November 2013 and 2014. However, Metro Denver recorded a 1.1 percent increase in foreclosures in November compared with the previous year, but the total was 18.1 percent lower than the previous month.

The Denver Metro Apartment Vacancy and Rent Survey for the third quarter of 2014 reported the third consecutive quarter of decreasing vacancy rates. The Metro Denver apartment vacancy rate fell 0.8 percentage points to 3.9 percent from the second quarter level, the lowest vacancy rate since the third quarter of 2000.

Economic Indicators January 2015 2015 YTD

Nonfarm Employment Growth

+3,000 Increase

Employment up 0.2% from Oct. to Nov.

+40,700 Increase

YTD employment up 2.8% through Nov.

% Companies Hiring (Denver Area)

20 % Decrease

Companies expecting to add workers decreased from 4Q 2014 to 1Q 2015

20 % Increase

YTD average up 2 percentage points compared with 2014

Unemployment Rate

3.8 % Increase

Unemployment increased 0.2 percentage points Oct. to Nov.

5.0 % Decrease

Down from 2013 YTD average of 6.5%

Initial Unemployment Insurance Claims

54.0 % Increase

Claims increased from Oct. to Nov.

-12.5 % Decrease

YTD average claims decreased through Nov. 2014

Total Retail Sales

6.2 % Increase

Metro sales increased from Apr. to May

3.4 % Increase

YTD sales up through May 2014

Consumer Confidence Index

97.3 Decrease

Index down 3.9% from Nov. to Dec.

89.0 Increase

YTD average up 19.4% through Dec. 2014

Hotel Occupancy

65.0 % Decrease

Decreased 16.7 percentage points from Oct. to Nov.

77.4 % Increase

YTD occupancy up 5.1 percentage points from last year

DIA Passengers

-12.7 % Decrease

Passengers decreased from Oct. to Nov.

2.2 % Increase

YTD passengers increased through Nov. 2014

Bloomberg Colorado Index

601.0 Decrease

Index down 0.6% from Nov. to Dec.

-1.6 % Decrease

YTD return through Dec. 2014

Dow Jones / Industrial Average

17,833.0 No change

Index unchanged from Nov. to Dec.

7.6 % Increase

YTD return through Dec. 2014

Home Sales (Closed)

3,586 Decrease

Sales down 25% from Oct. to Nov.

49,583 Decrease

YTD sales down 0.6% through Nov. 2014

Median Home Price (Denver-Aurora MSA)

$315,500 Decrease

Down 0.3% from 2Q 2014 to 3Q 2014

$306,700 Increase

YTD price 10.3% higher through 3Q 2014

Foreclosures

354 Decrease

Down 18.1% from Oct. to Nov.

4,899 Decrease

Down 30.4% YTD through Nov. 2014

Residential Building Permits (Total)

758 Decrease

Permits decreased 61.5% from Oct. to Nov.

15,471 Increase

YTD permits up 5.9% through Nov. 2014

Apartment Vacancy Rate

3.9 % Decrease

Vacancy decreased 0.8 percentage points from 2Q 2014 to 3Q 2014

4.6 % Increase

YTD average up 0.2 percentage points through 3Q 2014

Office Vacancy Rate (with Sublet)

10.6 % Decrease

Vacancy rate down 0.4 percentage points from 3Q 2014 to 4Q 2014

-1 percentage point Decrease

4Q 2014 vacancy rate down from 11.6% one year ago

Industrial Vacancy Rate (with Sublet)

3.3 % Decrease

Vacancy rate down 0.3 percentage points from 3Q 2014 to 4Q 2014

-0.9 percentage points Decrease

4Q 2014 vacancy rate down from 4.2% one year ago

Retail Space Vacancy Rate (with Sublet)

5.7 % Decrease

Vacancy rate down 0.1 percentage point from 3Q 2014 to 4Q 2014

-0.6 percentage points Decrease

4Q 2014 vacancy rate down from 6.3% one year ago

Economic Indicators January 2015 2015 YTD