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.

July 2017 PDF Download Snapshot

Monthly Economic Indicators

According to the Manpower Employment Outlook Survey, 30 percent of Denver area companies plan on increasing staff levels in the third quarter of 2017, the highest percentage since the fourth quarter of 2008 of 32 percent.

Existing home sales recorded a 24.2 percent increase over-the-month and a 9.8 percent increase over-the-year.

The hotel occupancy rate for Metro Denver in May (82.2 percent) was the highest recorded occupancy rate for that month with data going back to 2002.

Economic Indicators July 2017 Year-Over-Year 2017 YTD

Nonfarm Employment Growth

14,700 Increase

Employment up 0.9% from Apr. to May

43,900 Increase

Employment up 2.7% from May 2016 to 2017

35,400 Increase

YTD employment up 2.2% through May

% Companies Hiring (Denver Area)

30 % Increase

Companies expecting to add workers rose 3 percentage points from 2Q 2017 to 3Q 2017

30 % Increase

Companies expecting to add workers rose 5 percentage points from 3Q 2016 to 3Q 2017

27 % Increase

YTD average up 3 percentage points compared with 2016

Unemployment Rate

2.3 % Increase

Unemployment rose 0.2 percentage points between Apr. and May

-0.7 percentage points Decrease

Unemployment rate down from May 2016 to 2017

2.6 % Decrease

Down from 2016 YTD average of 3.4%

Initial Unemployment Insurance Claims

1.2 % Increase

Claims increased from Apr. to May

-8.5 % Decrease

Claims decreased from May 2016 to 2017

-12.4 % Decrease

YTD average claims decreased through May 2017

Total Retail Sales

-1.1 % Decrease

Metro sales decreased from Jan. to Feb.

1.3 % Increase

Metro sales up from Feb. 2015 to 2016

-2.8 % Decrease

YTD sales down through Feb. 2016

Consumer Confidence Index

133.3 Increase

Index up 6% from May to June

33.6 % Increase

Index up from June 2016 to 2017

129.2 Increase

YTD average up 30.8% through June 2017

Hotel Occupancy

82.2 % Increase

Increased 10.9 percentage points from Apr. to May

+4.4 percentage points Increase

Occupancy increased from May 2016 to 2017

71 % Increase

YTD occupancy up from last year

DIA Passengers

-7.3 % Decrease

Passengers down from Mar. to Apr.

9.9 % Increase

Passengers up from Apr. 2016 to 2017

7 % Increase

YTD passengers increased through Apr. 2017

Bloomberg Colorado Index

530.2 Decrease

Index down 4.1% from to May to June

3 % Increase

Index up from June 2016 to 2017

2.6 % Increase

YTD return through June 2017

Dow Jones / Industrial Average

21,350.7 Increase

Index up 1.6% from May to Jun.

19.1 % Increase

Index up from Jun. 2016 to 2017

8 % Increase

YTD return through Jun. 2017

Home Sales (Closed)

6,004 Increase

Sales up 24.2% from Apr. to May

9.8 % Increase

Sales up from May 2016 to 2017

22,234 Increase

YTD sales up 3.3% through May 2017

Median Home Price (Denver-Aurora MSA)

$396,100 Increase

Up 3.8% from 4Q 2016 to 1Q 2017

7.3 % Increase

Price up from 1Q 2016 to 1Q 2017

$396,100 Increase

YTD price 7.3% higher through 1Q 2017

Foreclosures

258 Increase

Up 9.3% from Apr. to May

14.7 % Increase

Up from May 2016 to 2017

1,255 Decrease

Down 14.4% YTD through May 2017

Residential Building Permits (Total)

1,375 Decrease

Permits decreased 45.8% from Apr. to May

-39 % Decrease

Permits down from May 2016 to 2017

10,084 Increase

YTD permits up 11.1% through May 2017

Apartment Vacancy Rate

5.7 % Decrease

Vacancy decreased 0.5 percentage points from 4Q 2016 to 1Q 2017

-0.4 percentage points Decrease

Vacancy decreased from 1Q 2016 to 1Q 2017

5.7 % Decrease

YTD average down 0.4 percentage points from last year

Office Vacancy Rate (with Sublet)

10.9 % Increase

Vacancy rate up 0.2 percentage points from 1Q 2017 to 2Q 2017

+1.1 percentage points Increase

Vacancy rate up from 9.8% one year ago

+1.1 percentage points Increase

Vacancy rate up from 2Q 2016 to 2Q 2017

Industrial Vacancy Rate (with Sublet)

4.3 % No change

Vacancy rate unchanged from 1Q 2017 to 2Q 2017

+0.7 percentage points Increase

2Q 2017 vacancy up from 3.6% one year ago

+0.7 percentage points Increase

2Q 2017 vacancy up from 3.6% one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Increase

Vacancy rate up 0.1 percentage points from 1Q 2017 to 2Q 2017

+0.1 percentage points Increase

2Q 2017 vacancy rate up from 4.8% one year ago

+0.1 percentage points Increase

2Q 2017 vacancy rate up from 4.8% one year ago

Economic Indicators July 2017 Year-Over-Year 2017 YTD