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.

May 2016 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 3 percent between March 2015 and 2016, or an additional 46,200 jobs during the period. The employment growth consisted of a 3.1 percent increase in the Denver-Aurora-Lakewood MSA, or an additional 42,800 jobs, and a 1.9 percent increase in the Boulder MSA, representing 3,400 jobs.

Retail sales in Metro Denver increased 0.9 percent between August 2014 and 2015. Retail sales for August 2015 totaled nearly $9.2 billion, an absolute increase of about $80 million over the August 2014 total of $9.1 billion.

The Denver Metro Apartment Vacancy and Rent Survey for the first quarter of 2016 reported a 0.7 percentage point decline in the vacancy rate over-the-quarter to 6.1 percent and a 1.8 percent increase in the average lease rate over-the-quarter to $1,315 per month. 

Economic Indicators May 2016 2016 YTD

Nonfarm Employment Growth

+9,900 Increase

Employment up 0.6% from Feb. to March

+42,200 Increase

YTD employment up 2.7% through March

% Companies Hiring (Denver Area)

23 % No change

Companies expecting to add workers was unchanged from 1Q 2016 to 2Q 2016

23 % Increase

YTD average up 1 percentage point compared with 2015

Unemployment Rate

3.2 % Increase

Unemployment up 0.1 percentage points from Feb. to March

3.1 % Decrease

Down from 2015 YTD average of 4.4%

Initial Unemployment Insurance Claims

-2.8 % Decrease

Claims decreased from Feb. to March

2.1 % Increase

YTD average claims increased through March 2016

Total Retail Sales

2.9 % Increase

Metro sales increased from July to Aug.

2.6 % Increase

YTD sales up through Aug. 2015

Consumer Confidence Index

90.1 Increase

Index up 2.9% from March to April

94 Decrease

YTD average down 12.4% through April 2016

Hotel Occupancy

70.3 % Increase

Increased 2.1 percentage points from Feb. to March

67.1 % Decrease

YTD occupancy down 4 percent from last year

DIA Passengers

-5.1 % Decrease

Passengers decreased from Jan. to Feb.

8.8 % Increase

YTD passengers increased through Feb. 2016

Bloomberg Colorado Index

501.7 Increase

Index up 0.8% from March to April

0.9 % Increase

YTD return through April 2016

Dow Jones / Industrial Average

17,773.6 Increase

Index up 0.6% from March to April

2 % Increase

YTD return through April 2016

Home Sales (Closed)

3,198 Decrease

Sales down 3.6% from Jan. to Feb.

6,516 Increase

YTD sales up 9.5% through Feb. 2016

Median Home Price (Denver-Aurora MSA)

$353,500 Increase

Up 0.1% from 3Q 2015 to 4Q 2015

$353,600 Increase

YTD price 14% higher through 4Q 2015

Foreclosures

332 Decrease

Down 10% from Feb. to March

941 Increase

Up 15.9% YTD through March 2016

Residential Building Permits (Total)

1,657 Increase

Permits increased 3.8% from Feb. to March

4,778 Increase

YTD permits up 18.1% through March 2016

Apartment Vacancy Rate

6.1 % Decrease

Vacancy decreased 0.7 percentage points from 4Q 2015 to 1Q 2016

6.1 % Increase

YTD average up 1.2 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Decrease

Vacancy rate down 0.3 percentage points from 4Q 2015 to 1Q 2016

-0.7 percentage points Decrease

1Q 2016 vacancy rate down from 10.7% one year ago

Industrial Vacancy Rate (with Sublet)

3.3 % Decrease

Vacancy rate down 0.1 percentage points from 4Q 2015 to 1Q 2016

+0.0 percentage points No change

1Q 2016 vacancy unchanged from one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Decrease

Vacancy rate down 0.2 percentage points from 4Q 2015 to 1Q 2016

-0.3 percentage points Decrease

1Q 2016 vacancy rate down from 5.2% one year ago

Economic Indicators May 2016 2016 YTD