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 2017 PDF Download Snapshot

Monthly Economic Indicators

The non-seasonally adjusted unemployment rate for Denver is the lowest recorded since October 2000, while the seasonally adjusted unemployment rate is the lowest in Denver's history.

Metro Denver unemployment claims were below 1,000 for the first time since June 2007.

Residential building permits are up 14.6 percent over-the-month, 39.4 percent over-the-year, and 23.1 percent year-to-date.

Economic Indicators May 2017 Year-Over-Year 2017 YTD

Nonfarm Employment Growth

6,400 Increase

Employment up 0.4% from Feb. to Mar.

34,300 Increase

Employment up 2.1% from Mar. 2016 to 2017

34,500 Increase

YTD employment up 2.2% through Mar.

% Companies Hiring (Denver Area)

27 % Increase

Companies expecting to add workers rose 2 percentage points from 1Q 2017 to 2Q 2017

27 % Increase

Companies expecting to add workers rose 4 percentage points from 2Q 2016 to 2Q 2017

26 % Increase

YTD average up 3 percentage points compared with 2016

Unemployment Rate

2.3 % Decrease

Unemployment fell 0.8 percentage points between Feb. and Mar.

-1.3 percentage points Decrease

Unemployment rate down from Mar. 2016 to 2017

2.9 % Decrease

Down from 2016 YTD average of 3.5%

Initial Unemployment Insurance Claims

-13.5 % Decrease

Claims decreased from Feb. to Mar.

-26.2 % Decrease

Claims decreased from Mar. 2016 to 2017

-12.3 % Decrease

YTD average claims decreased through Feb. 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

137.5 Increase

Index up 12.2% from Mar. to Apr.

51.1 % Increase

Index up from Apr. 2016 to 2017

128 Increase

YTD average up 35.8% through Apr. 2017

Hotel Occupancy

74.2 % Increase

Increased 9.5 percentage points from Feb. to Mar.

3.9 percentage points Increase

Occupancy increased from Mar. 2016 to 2017

67.1 % No change

YTD occupancy unchanged from last year

DIA Passengers

-5.2 % Decrease

Passengers down from Jan. to Feb.

3.3 % Increase

Passengers up from Feb. 2016 to 2017

3.4 % Increase

YTD passengers increased through Feb. 2017

Bloomberg Colorado Index

556.2 Increase

Index up 1.4% from Mar. to Apr.

10.9 % Increase

Index up from Apr. 2016 to 2017

7.6 % Increase

YTD return through Apr. 2017

Dow Jones / Industrial Average

20,940.5 Increase

Index up 1.3% from Mar. to Apr.

17.8 % Increase

Index up from Apr. 2016 to 2017

6 % Increase

YTD return through Apr. 2017

Home Sales (Closed)

4,725 Increase

Sales up 49.1% from Feb. to Mar.

0.6 % Increase

Sales up from Mar. 2016 to 2017

11,438 Increase

YTD sales up 2% through Mar. 2017

Median Home Price (Denver-Aurora MSA)

$381,600 Decrease

Down 1.3% from 3Q 2016 to 4Q 2016

7.9 % Increase

Price up from 4Q 2015 to 4Q 2016

$384,300 Increase

YTD price 8.7% higher through 4Q 2016

Foreclosures

292 Increase

Up 23.2% from Feb. to Mar.

-12 % Decrease

Down from Mar. 2016 to 2017

765 Decrease

Down 21.4% YTD through Mar. 2017

Residential Building Permits (Total)

2,310 Increase

Permits increased 11.9% from Feb. to Mar.

39.4 % Increase

Permits up from Mar. 2016 to 2017

5,912 Increase

YTD permits up 23.8% through Mar. 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)

10.6 % Increase

Vacancy rate up 0.5 percentage points from 4Q 2016 to 1Q 2017

+0.7 percentage points Increase

Vacancy rate up from 9.9% one year ago

+0.7 percentage points Increase

Vacancy rate up from 1Q 2016 to 1Q 2017

Industrial Vacancy Rate (with Sublet)

4.3 % Increase

Vacancy rate up 0.2 percentage points from 4Q 2016 to 1Q 2017

+0.9 percentage points Increase

1Q 2017 vacancy up from 3.4% one year ago

+0.9 percentage points Increase

1Q 2017 vacancy up from 3.4% one year ago

Retail Space Vacancy Rate (with Sublet)

4.7 % No change

Vacancy rate unchanged from 4Q 2016 to 1Q 2017

-0.3 percentage points Decrease

1Q 2017 vacancy rate down from 5.0% one year ago

-0.3 percentage points Decrease

1Q 2017 vacancy rate down from 5.0% one year ago

Economic Indicators May 2017 Year-Over-Year 2017 YTD