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.

April 2021 PDF Download Snapshot

Monthly Economic Indicators

The Manpower Employment Outlook Survey revealed that 21 percent of Denver MSA employers surveyed plan to hire more employees in the second quarter of 2021.

Home sales in Metro Denver totaled 3,467 in February, up 3.7 percent from the same time last year. 

The direct office vacancy rate in Metro Denver rose to 11.5 percent in the first quarter of 2021, the highest vacancy rate posted in the region since the fourth quarter of 2012. 

Economic Indicators Current Month Year-Over-Year YTD

Nonfarm Employment Growth

18,300 Increase

Employment up 1.1% from January to February

-90,500 Decrease

Employment down 5.2% from February 2020 to 2021

-96,500 Decrease

YTD employment down 5.6% through February

% Companies Hiring (Denver Area)

21 % Increase

Companies hiring up 3 percentage points from 1Q 2021 to 2Q 2021

21 % Decrease

Companies hiring fell 6 percentage points from 2Q 2020 to 2Q 2021

20 % Decrease

YTD average down 7 percentage points compared with 2020

Unemployment Rate

6.8 % Decrease

Unemployment down 0.2 percentage points from January to February

4.1 percentage points Increase

Unemployment up from February 2020 to 2021

6.9 % Increase

Up 4.2 percentage points from 2020 YTD average

Initial Unemployment Insurance Claims

78.6 % Increase

Claims increased from January to February

1156.8 % Increase

Claims increased from February 2020 to 2021

836.3 % Increase

YTD average claims increased through February 2021

Total Retail Sales

-15.5 % Decrease

National sales decreased from December 2020 to January 2021

7.8 % Increase

National sales increased from January 2020 to 2021

7.8 % Increase

YTD sales increased through January 2021

Consumer Confidence Index

100 Increase

Index up 6.3 percent from February to March

-21.1 % Decrease

Index down from March 2020 to 2021

99.9 Decrease

YTD average down 27.1% through March 2021

Hotel Occupancy

40.7 % Increase

Increased 7.9 percentage points from January to February

-24.7 percentage points Decrease

Occupancy decreased from February 2020 to February 2021

36.5 % Decrease

YTD occupancy down from last year

DIA Passengers

-10.6 % Decrease

Passengers down from December 2020 to January 2021

-45.6 % Decrease

Passengers down from January 2020 to 2021

-45.6 % Decrease

YTD passengers decreased through January 2021

Bloomberg Colorado Index

809.8 Increase

Index up 0.4% from February to March

86.9 % Increase

Index up from March 2020 to 2021

6.6 % Increase

YTD return up through March 2021

Dow Jones / Industrial Average

32,981.6 Increase

Index up 5% from February to March

50.5 % Increase

Index up from March 2020 to 2021

7.8 % Increase

YTD return up through March 2021

Home Sales (Closed)

3,467 Increase

Sales up 5.8% from January to February

3.7 % Increase

Sales up from February 2020 to 2021

6,743 Increase

YTD sales up 1.6% through February 2021

Median Home Price (Denver-Aurora MSA)

$512,500 Increase

Up 1.3% from 3Q 2020 to 4Q 2020

11.9 % Increase

Price up from 4Q 2019 to 4Q 2020

$492,700 Increase

YTD price 6.6% higher through 4Q 2020

Foreclosures

23 Decrease

Down 8% from January to February

-90.8 % Decrease

Down from February 2020 to 2021

48 Decrease

Down 91.1% YTD through February 2021

Residential Building Permits (Total)

1,706 Decrease

Permits decreased 9.3% from Jan. to Feb.

15.7 % Increase

Permits up from Feb. 2020 to Feb. 2021

3,586 Increase

YTD permits up 32.6% through February 2021

Apartment Vacancy Rate

5.8 % Increase

Vacancy increased 0.9 percentage points from 3Q 2020 to 4Q 2020

0.5 percentage points Increase

Vacancy increased from 4Q 2019 to 4Q 2020

5.4 % Increase

YTD average up 0.3 percentage points from last year

Office Vacancy Rate (with Sublet)

13.1 % Increase

Vacancy rate up 0.6 percentage points from 4Q 2020 to 1Q 2021

+3.3 percentage points Increase

1Q 2021 vacancy up from 9.8% one year ago

+3.3 percentage points Increase

1Q 2021 vacancy up from 9.8% one year ago

Industrial Vacancy Rate (with Sublet)

6.4 % Increase

Vacancy rate increased 0.4 percentage points from 4Q 2020 to 1Q 2021

+1.7 percentage points Increase

1Q 2021 vacancy up from 4.7% one year ago

+1.7 percentage points Increase

1Q 2021 vacancy up from 4.7% one year ago

Retail Space Vacancy Rate (with Sublet)

5.4 % Increase

Vacancy rate increased 0.2 percentage points from 4Q 2020 to 1Q 2021

+1.1 percentage points Increase

1Q 2021 vacancy up from 4.3% one year ago

+1.1 percentage points Increase

1Q 2021 vacancy up from 4.3% one year ago

Economic Indicators Current Month Year-Over-Year YTD