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.

August 2016 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 3.2 percent between June 2015 and 2016, or an additional 51,500 jobs during the period. The employment growth consisted of a 3.2 percent increase in the Denver-Aurora-Lakewood MSA, or an additional 45,000 jobs, and a 3.6 percent increase in the Boulder MSA, representing 6,500 jobs.

The Denver-Boulder-Greeley CPI level for the first six months of the year revealed significant growth in prices. Comparing the first half of 2015 with the first half of 2016, prices rose at a rate of 3 percent, the strongest first half of the year growth since 2011 when the rate was 3.8 percent.

According to the Denver Metro Apartment Vacancy and Rent Survey, Metro Denver recorded a vacancy rate of 5.4 percent during the second quarter of 2016, falling 0.7 percentage points from the first quarter of 2016. The average lease rate of $1,371 per month in the second quarter of 2016 was 4.2 percent higher than the previous quarter. 

Economic Indicators August 2016 Year-Over-Year 2016 YTD

Nonfarm Employment Growth

+11,200 Increase

Employment up 0.7% from May to June

+51,500 Increase

Employment up 3.2% from June 2015 to 2016

+45,800 Increase

YTD employment up 2.9% through June

% Companies Hiring (Denver Area)

25 % Increase

Companies expecting to add workers rose 2 percentage points from 2Q 2016 to 3Q 2016

25 % Decrease

Companies expecting to add workers fell 1 percentage point from 3Q 2015 to 3Q 2016

24 % Increase

YTD average up 1 percentage point compared with 2015

Unemployment Rate

3.8 % Increase

Unemployment was up 0.5 percentage points from May to June

-0.1 percentage points Decrease

Unemployment rate down from June 2015 to 2016

3.3 % Decrease

Down from 2015 YTD average of 4.1%

Initial Unemployment Insurance Claims

-16 % Decrease

Claims decreased from May to June

-9.9 % Decrease

Claims decreased from June 2015 to 2016

-1.8 % Decrease

YTD average claims decreased through June 2016

Total Retail Sales

-45.5 % Decrease

Metro sales decreased from Dec. to Jan.

-6.6 % Decrease

Metro sales down from Jan. 2015 to 2016

-6.6 % Decrease

YTD sales down through Jan. 2016

Consumer Confidence Index

99.6 Decrease

Index down 0.2% from June to July

-12.9 % Decrease

Index down from July 2015 to 2016

98.9 Decrease

YTD average down 9.3% through July 2016

Hotel Occupancy

88.8 % Increase

Increased 11 percentage points from May to June

0.1 percentage points Increase

Occupancy increased from June 2015 to 2016

73.7 % Decrease

YTD occupancy down 2.3 percent from last year

DIA Passengers

12 % Increase

Passengers up from April to May

8.2 % Increase

Passengers up from May 2015 to 2016

6.5 % Increase

YTD passengers increased through May 2016

Bloomberg Colorado Index

504.8 Decrease

Index down 1.9% from June to July

-16.8 % Decrease

Index down from July 2015 to 2016

1.6 % Increase

YTD return through July 2016

Dow Jones / Industrial Average

18,432.2 Increase

Index up 2.8% from June to July

4.2 % Increase

Index up from July 2015 to 2016

5.8 % Increase

YTD return through July 2016

Home Sales (Closed)

5,484 Increase

Sales up 11.6% from April to May

-3.8 % Decrease

Sales down from May 2015 to 2016

21,608 Increase

YTD sales up 0.3% through May 2016

Median Home Price (Denver-Aurora MSA)

$369,000 Increase

Up 4.4% from 4Q 2015 to 1Q 2016

9.1 % Increase

Price up from 1Q 2015 to 1Q 2016

$369,000 Increase

YTD price 9.1% higher through 1Q 2016

Foreclosures

251 Increase

Up 6.8% from May to June

-28.5 % Decrease

Down from June 2015 to 2016

1,696 Decrease

Down 6.7% YTD through June 2016

Residential Building Permits (Total)

1,495 Decrease

Permits decreased 42.7% from May to June

-2.5 % Decrease

Permits down from June 2015 to 2016

11,007 Increase

YTD permits up 24.5% through June 2016

Apartment Vacancy Rate

5.4 % Decrease

Vacancy decreased 0.7 percentage points from 1Q 2016 to 2Q 2016

0.9 percentage points Increase

Vacancy increased from 2Q 2015 to 2Q 2016

5.8 % Increase

YTD average up 1.1 percentage points from last year

Office Vacancy Rate (with Sublet)

9.6 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2016 to 2Q 2016

-0.7 percentage points Decrease

2Q 2016 vacancy rate down from 10.3% one year ago

-0.7 percentage points Decrease

2Q 2016 vacancy rate down from 10.3% one year ago

Industrial Vacancy Rate (with Sublet)

3.9 % Increase

Vacancy rate up 0.5 percentage points from 1Q 2016 to 2Q 2016

+0.8 percentage points Increase

2Q 2016 vacancy up from 3.1% one year ago

+0.8 percentage points Increase

2Q 2016 vacancy up from 3.1% one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2016 to 2Q 2016

-0.4 percentage points Decrease

2Q 2016 vacancy rate down from 5.3% one year ago

-0.4 percentage points Decrease

2Q 2016 vacancy rate down from 5.3% one year ago

Economic Indicators August 2016 Year-Over-Year 2016 YTD