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 2021 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver decreased 3.8 percent between November 2019 and 2020, falling by 66,200 jobs across all supersectors over-the-year. Employment in the Denver-Lakewood-Aurora MSA fell 3.3 percent, or by 51,700 jobs, while the Boulder-Longmont MSA decreased 7.2 percent, or by 14,500 jobs, during the period.

The Consumer Confidence Index for the U.S. decreased 30.9 percent over-the-year to 88.6 in December 2020.

Home sales in Metro Denver totaled 4,980 in November, up 23.1 percent from the same time last year. 

Economic Indicators Current Month Year-Over-Year YTD

Nonfarm Employment Growth

3,200 Increase

Employment up 0.2% from October to November

-66,200 Decrease

Employment down 3.8% from November 2019 to 2020

-62,400 Decrease

YTD employment down 3.6% through November

% Companies Hiring (Denver Area)

18 % No change

Companies hiring remained constant from 4Q 2020 to 1Q 2021

18 % Decrease

Companies hiring fell 8 percentage points from 1Q 2020 to 1Q 2021

18 % Decrease

YTD average down 8 percentage points compared with 2020

Unemployment Rate

6.3 % Decrease

Unemployment down 0.1 percentage points from October to November

4.0 percentage points Increase

Unemployment up from November 2019 to 2020

7.0 % Increase

Up 4.4 percentage points from 2019 YTD average

Initial Unemployment Insurance Claims

226.1 % Increase

Claims increased from October to November

787.3 % Increase

Claims increased from November 2019 to 2020

668.4 % Increase

YTD average claims increased through November 2020

Total Retail Sales

3.9 % Increase

National sales increased from September to October

5.8 % Increase

National sales increased from October 2019 to 2020

0.0 % No change

YTD sales remained constant through October 2020

Consumer Confidence Index

104.2 Increase

Index up 10.4 percent from November to December

-25.1 % Decrease

Index down from December 2019 to 2020

104.8 Decrease

YTD average down 22.4% through December 2020

Hotel Occupancy

33.2 % Decrease

Decreased 13.5 percentage points from October to November

-31.4 percentage points Decrease

Occupancy decreased from November 2019 to November 2020

42.6 % Decrease

YTD occupancy down from last year

DIA Passengers

14.2 % Increase

Passengers up from September to October

-45.4 % Decrease

Passengers down from October 2019 to 2020

-52.2 % Decrease

YTD passengers decreased through October 2020

Bloomberg Colorado Index

759.6 Increase

Index up 5.4% from November to December

25.1 % Increase

Index up from December 2019 to 2020

25.1 % Increase

YTD return up through December 2020

Dow Jones / Industrial Average

30,606.5 Increase

Index up 3.3% from November to December

7.2 % Increase

Index up from December 2019 to 2020

7.2 % Increase

YTD return up through December 2020

Home Sales (Closed)

4,980 Decrease

Sales down 17.4% from October to November

23.1 % Increase

Sales up from November 2019 to 2020

52,846 Increase

YTD sales up 0.1% through November 2020

Median Home Price (Denver-Aurora MSA)

$506,000 Increase

Up 5.8% from 2Q 2020 to 3Q 2020

8.7 % Increase

Price up from 3Q 2019 to 3Q 2020

$486,100 Increase

YTD price 5.4% higher through 3Q 2020

Foreclosures

38 Increase

Up 72.7% from October to November

-82.2 % Decrease

Down from November 2019 to 2020

940 Decrease

Down 62.9% YTD through November 2020

Residential Building Permits (Total)

1,247 Decrease

Permits decreased 45.2% from October to November

-14.9 % Decrease

Permits down from Nov. 2019 to Nov. 2020

17,457 Decrease

YTD permits down 2.4% through November 2020

Apartment Vacancy Rate

4.9 % Decrease

Vacancy decreased 0.2 percentage points from 2Q 2020 to 3Q 2020

0.2 percentage points Increase

Vacancy increased from 3Q 2019 to 3Q 2020

5.3 % Increase

YTD average up 0.3 percentage points from last year

Office Vacancy Rate (with Sublet)

12.3 % Increase

Vacancy rate up 0.7 percentage points from 3Q 2020 to 4Q 2020

+2.7 percentage points Increase

4Q 2020 vacancy up from 9.6% one year ago

+2.7 percentage points Increase

4Q 2020 vacancy up from 9.6% one year ago

Industrial Vacancy Rate (with Sublet)

6.0 % Increase

Vacancy rate increased 0.4 percentage points from 3Q 2020 to 4Q 2020

+0.9 percentage points Increase

4Q 2020 vacancy up from 5.1% one year ago

+0.9 percentage points Increase

4Q 2020 vacancy up from 5.1% one year ago

Retail Space Vacancy Rate (with Sublet)

5.3 % Increase

Vacancy rate increased 0.2 percentage points from 3Q 2020 to 4Q 2020

+1 percentage point Increase

4Q 2020 vacancy up from 4.3% one year ago

+1 percentage point Increase

4Q 2020 vacancy up from 4.3% one year ago

Economic Indicators Current Month Year-Over-Year YTD