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.

October 2020 PDF Download Snapshot

Monthly Economic Indicators

Unemployment in Metro Denver rose 4.4 percentage points over-the-year to 6.9 percent in August 2020. The unemployment rate decreased 0.9 percentage points from the previous month’s reading of 7.8 percent.

The Consumer Confidence Index for the Mountain Region increased 9.7 percent from August to September 2020.

Residential building permits in Metro Denver totaled 2,173 units permitted in August, an increase of 44.8 percent, or 672 units, from the same time last year. 

Economic Indicators Current Month Year-Over-Year YTD

Nonfarm Employment Growth

21,100 Increase

Employment up 1.3% from July to August

-86,800 Decrease

Employment down 4.9% from August 2019 to 2020

-60,500 Decrease

YTD employment down 3.5% through August

% Companies Hiring (Denver Area)

18 % Decrease

Companies hiring fell 3 percentage points from 3Q 2020 to 4Q 2020

18 % Decrease

Companies hiring fell 2 percentage points from 4Q 2019 to 4Q 2020

23 % Decrease

YTD average down 4 percentage points compared with 2019

Unemployment Rate

6.9 % Decrease

Unemployment down 0.9 percentage points from July to August

4.4 percentage points Increase

Unemployment up from August 2019 to 2020

7.3 % Increase

Up 4.5 percentage points from 2019 YTD average

Initial Unemployment Insurance Claims

-20.3 % Decrease

Claims decreased from July to August

338.2 % Increase

Claims increased from August 2019 to 2020

737.7 % Increase

YTD average claims increased through August 2020

Total Retail Sales

2.6 % Increase

National sales increased from June to July

3.5 % Increase

National sales increased from July 2019 to 2020

-2.1 % Decrease

YTD sales decreased through July 2020

Consumer Confidence Index

94.8 Increase

Index up 9.7 percent from August to September

-27.1 % Decrease

Index down from September 2019 to 2020

104.7 Decrease

YTD average down 22.5% through September 2020

Hotel Occupancy

45.6 % Increase

Increased 2.6 percentage points from July to August

-40.1 percentage points Decrease

Occupancy decreased from August 2019 to August 2020

42.6 % Decrease

YTD occupancy down from last year

DIA Passengers

48.1 % Increase

Passengers up from June to July

-61.5 % Decrease

Passengers down from July 2019 to 2020

-53.1 % Decrease

YTD passengers decreased through July 2020

Bloomberg Colorado Index

644.6 Decrease

Index down 4.3% from August to September

10.4 % Increase

Index up from September 2019 to 2020

6.2 % Increase

YTD return up through September 2020

Dow Jones / Industrial Average

27,767.7 Decrease

Index down 2.3% from August to September

3.2 % Increase

Index up from September 2019 to 2020

-2.7 % Decrease

YTD return down through September 2020

Home Sales (Closed)

5,651 Decrease

Sales down 14.2% between July and August

5.1 % Increase

Sales up from August 2019 to 2020

35,481 Decrease

YTD sales down 8.4% through August 2020

Median Home Price (Denver-Aurora MSA)

$478,400 Increase

Up 1% from 1Q 2020 to 2Q 2020

1.5 % Increase

Price up from 2Q 2019 to 2Q 2020

$476,100 Increase

YTD price 3.7% higher through 2Q 2020

Foreclosures

23 Decrease

Down 34.3% from July to August

-90.4 % Decrease

Down from August 2019 to 2020

854 Decrease

Down 53.6% YTD through August 2020

Residential Building Permits (Total)

2,173 Increase

Permits increased 50.9% from July to August

44.8 % Increase

Permits up August 2019 to August 2020

11,898 Decrease

YTD permits down 8.2% through August 2020

Apartment Vacancy Rate

5.1 % Decrease

Vacancy decreased 0.8 percentage points from 1Q 2020 to 2Q 2020

0.1 percentage points Increase

Vacancy increased from 2Q 2019 to 2Q 2020

5.5 % Increase

YTD average up 0.3 percentage points from last year

Office Vacancy Rate (with Sublet)

11.5 % Increase

Vacancy rate up 1.1 percentage points from 2Q 2020 to 3Q 2020

+1.8 percentage points Increase

3Q 2020 vacancy up from 9.7% one year ago

+1.8 percentage points Increase

3Q 2020 vacancy up from 9.7% one year ago

Industrial Vacancy Rate (with Sublet)

6.1 % Increase

Vacancy rate increased 0.5 percentage points from 2Q 2020 to 3Q 2020

+0.8 percentage points Increase

3Q 2020 vacancy up from 5.3% one year ago

+0.8 percentage points Increase

3Q 2020 vacancy up from 5.3% one year ago

Retail Space Vacancy Rate (with Sublet)

5.3 % Increase

Vacancy rate increased 0.5 percentage points from 2Q 2020 to 3Q 2020

+1.1 percentage points Increase

3Q 2020 vacancy up from 4.2% one year ago

+1.1 percentage points Increase

3Q 2020 vacancy up from 4.2% one year ago

Economic Indicators Current Month Year-Over-Year YTD